Yanbu Cement profits surge 15% to SR48 mln in 2Q

Yanbu Cement Co. announced that its profits after zakat and tax surged 14.8% to SR 48.04 million in the second quarter of 2022 compared to SR 41.8 million during the same period of 2021.

This came after Yanbu Cement announcement on Tuesday of the preliminary financial results for the period ending on 30.06.2022 (six months).

The company’s operational profits rose 18.02% to SR 50.8 million in the 2^nd quarter of the current year from SR 43.07 million in the same period of the previous year.

Gross Profits of Yanbu Cement soared 19.7% to SR 63.6 million in the second quarter of this year from SR 53.14 billion a year ago, while the profit per share dipped to SR 0.55 from SR 0.73.

Increase in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to: Decrease in cost of sales as a result of the increase in the quantity of clinker production despite the decrease in the quantity and value of cement sales.

Decrease in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to : the increase in the value of sales despite the decrease in sales quantities due to the impact of the results for the period in the holy month of Ramadan and the holidays.

Decrease in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to: the decrease in the quantity and value of sales, and an increase in general and administrative expenses.