Umm Al-Qura Cement Profits Decrease to SR78 mln by End of 2021, by 33%

The Umm Al-Qura Cement Company net profit after zakat and tax decreased in the current year to SR78.01 million, compared to SR117.7 million in the year before last, a decrease of 33.2%.

This came after Umm Al-Qura announcement on Thursday of the annual financial results ending on 31.12.2021.

The operational profit in the current year amounted to SR102.19 million, compared to SR144.45 million in the year before last, a decrease of 29.2%.

The gross income amounted to SR115.8 million in the current year, compared to SR158 million in the previous year, a rate of 26.7%.

Profits per share fell in the current year to SR1.42, compared to SR2.14 in the year before last.

The total shareholders’ equity “without minority rights” amounted to SR749.07 million in the current year, compared to SR720.38 million in the year before last, a growth of 3.9%.

The reason of the decrease in the net profit during this year compared to the previous year are due to the decrease in the amount and value of sales, while the increase in selling and marketing expenses. Also, decrease in the other revenues despite the decrease in general and administrative expenses and, the decrease in financing cost.