Qassim Cement’s profits fell to SR295 million at end of 2021, by 30%

Qassim Cement Company net profit after zakat and tax decreased to SR295.3 million during 2021, compared to SR420 million during 2020 by 30%

This came after Qassim Cement Company announced the annual financial results ending on 31 December 2021.

The operational profit during the current period amounted to SR260 million, compared to SR422 million during the same period last year, a decline of 38%.

As for the total profit during the current period, it amounted to SR289 million, compared to SR473 million during the same period last year, a decrease of 39%.

Earnings per share during the current period amounted to SR3.28, compared to SR4.66 during the same period last year.

The decrease in net income for current year compared with last year due to the decrease in the sales value and volume, and the increase in cost of sales, despite the following:

– The decrease in selling & marketing expenses and the general & administrative expenses.

– The increase in financial investment returns.

– The increase in other income.

“Some comparative figures have been reclassified to tally with the current presentation.” the company said.