Al Jouf Cement pens SAR 30m deal with Jordanian firm

Riyadh – Mubasher: Al Jouf Cement Company inked a contract with Jordan-based Rabou’ Al Taybeh Company on 4 January 2024, according to a bourse filing.

The deal covers the selling and exporting of clinker and holds a six-month duration period, which is subject to renewal.

Meanwhile, the contract’s value stands at SAR 30 million, representing more than 10% of the company’s total revenues, according to the latest audited financial results.

The Tadawul-listed company highlighted that the agreement will reflect positively on its income statements, starting from the first quarter (Q1) of 2024 until Q2-24.

In the first nine months (9M) of 2023, Al Jouf Cement recorded an 836.43% year-on-year (YoY) leap in net profit after Zakat and tax to SAR 72.62 million, versus SAR 7.75 million.

Earnings per share (EPS) increased to SAR 0.67 in 9M-23 from SAR 0.07 a year earlier, while the revenues jumped by 26.27% to SAR 217.74 million from SAR 172.43 million.

Mubasher Contribution Time: 09-Jan-2024 08:31 (GMT)
Mubasher Last Update Time: 09-Jan-2024 08:31 (GMT)