Riyadh – Mubasher: Yanbu Cement Company posted net profits after Zakat and tax worth SAR 101.83 million during the first nine months (9M) of 2023, a 34.82% plunge from SAR 156.24 million.
Earnings per share (EPS) went down to SAR 0.65 in 9M-23 from SAR 0.99 in 9M-22, according to the income statements on the stock market Tadawul.
The company generated revenues amounting to SAR 586.62 million during the January-September 2023 period, which came 20.93% lower than SAR 741.90 million in the corresponding period a year ago.
Income Statements for Q3-23
In the third quarter (Q3) of 2023, Yanbu Cement recorded net profits of SAR 15.54 million, an annual decrease of 77.57% from SAR 69.27 million.
The revenues also declined by 27.87% to SAR 189.06 million in July-September 2023, compared with SAR 262.10 million in Q3-22.
On a quarterly basis, the net profits in Q3-23 were 55.94% lower than SAR 35.27 million in Q2-23, whereas the revenues grew by 8.93% from SAR 173.56 million.
During the first half (H1) of 2023, the listed cement manufacturer logged net profits of SAR 86.29 million as well as revenues worth SAR 397.56 million.
