Riyadh - Mubasher: Southern Province Cement Company generated 700% year-on-year (YoY) higher net profits at SAR 24 million for the second quarter (Q2) of 2026, compared to SAR 3 million.
The company attributed the profit growth to higher sales volumes, lower cost of sales, and a reduction in general and administrative expenses.
Quarterly revenue reached SAR 201 million, up 3.08% from SAR 195 million in the prior-year period, despite a decline in average selling prices. Operating profit for the quarter climbed by 166.67% to SAR 32 million.
On a sequential basis, the company returned to profitability following a net loss of SAR 4 million in the first quarter (Q1) of 2026, supported by a significant reduction in the cost of sales.
For the first half (H1) of 2026, net profit rose by 5.26% to SAR 20 million, compared to SAR 19 million in the first half of the previous year.
Half-year revenue declined by 2.89% to SAR 403 million as lower average selling prices offset the impact of increased sales volumes.
Earnings per share (EPS) for the six-month period increased to SAR 0.14 from SAR 0.13 a year earlier. Total shareholders' equity was reported at SAR 3.05 billion.
As of 31 March 2026, the company turned to net losses valued at SAR 4 million, against net profits of SAR 16 million in Q1-25.
