Yanbu Cement profits trend lower in 2021

Yanbu Cement Co. has reported net profit decline of 43% to SR 160 million in 2021 from SR 281 million, according to financial result statement published on Tadawul.

The Saudi Company’s operation profit also dropped 42% to SR 176 million from SR 301 million in 2020, while gross profit declined by 35% to SR 224 million from SR 342 million.

Yanbu Cement reported profit per share (EPS) decline to SR 1.01 from SR 1.78.

Lower net profits were due to:

1- Reduction in average price despite the fact that sales volumes are higher

2- The high cost of revenues as a result of Less Production.

3- Increase in general and administrative expenses.