Riyadh – Mubasher: Najran Cement Company reported net profits after Zakat and tax worth SAR 64.42 million in the first nine months (9M) of 2022, an annual plunge of 50.26% from SAR 129.51 million.
The Saudi firm generated SAR 375.60 million in revenue during January-September 2022, down 15% year-on-year (YoY) from SAR 441.89 million, according to the initial income statements.
Additionally, the earnings per share (EPS) plummeted to SAR 0.38 in 9M-22 from SAR 0.76 in 9M-21.
In the third quarter (Q3) of 2022, the company’s net profits after Zakat and tax reached SAR 27.87 million, a decrease of 22.70 from SAR 36.06 million in Q3-21.
Revenues grew by 1.43% YoY to SAR 127.68 million in Q3-22 from SAR 125.88 million.
On a quarterly basis, the Q3-22 net profits after Zakat and tax enlarged by 110.27% from SAR 13.25 million in Q2-22, while the revenues jumped by 18.17% from SAR 108.05 million.
In the first half (H1) of 2022, the Tadawul-listed firm witnessed an annual drop of 60.90% in net profit after Zakat and tax to SAR 36.54 million from SAR 93.45 million.
Earlier in October, Najran Cement announced cash dividends distribution worth SAR 42.50 million for H1-22.
