City Cement sees 16% higher profit in 2020; dividends approved

Riyadh – Mubasher: City Cement Company’s net profits for the year 2020 jumped by 15.99% to SAR 220.5 million, compared with SAR 190.1 million a year earlier.

The rise in the annual profits was helped by higher sales value and volume and lower Zakat expense, and general and administrative expenses, according to a bourse disclosure on Sunday.

The company’s revenue grew by 7.7% annually last year to stand at SAR 572.3 million.

In a separate statement, the firm said its board approved distributing SAR 70 million or SAR 0.5 per share in cash dividends to shareholders for the second half (H2) of 2020.

Mubasher Contribution Time: 28-Feb-2021 13:47 (GMT)
Mubasher Last Update Time: 28-Feb-2021 13:51 (GMT)