Riyadh Cement profits fell to SR85 mln at end of H1 by 47%

The net profit after zakat and tax for Riyadh Cement Company decreased to SR85 million in the first half, compared to SR160 million in the same period last year, at a rate of 47%.
This came after announcing today the preliminary financial results for the period ending on 30.06.2022 (six months).
The operational profit amounted to SR90 million in the first half, compared to SR173 million in the same period of the previous year, down 48%.
The gross profit amounted to SR106 million in the 6-month period, compared to SR185 million in the same period last year, a decrease of 43%.
Profits per share in the current period reached SR0.71, compared to SR1.34 in the same period last year.
The reason for the decrease in net profit during this period compared to the same period last year is due to the decrease in the company’s sales.