Eastern Province Cement reports 30.6% profit surge to SR43 mln in Q2

The net profit after zakat and tax for Eastern Province Cement Co. declined during the second quarter to SR43 million, compared to SR62 million in the same quarter of last year, at a rate of 30.6%.

This came after Wednesday’s announcement of the preliminary financial results for the period ending 30.06.2022 (6 Months).

The net profit after zakat and tax during the current period amounted to SR72 million, compared to SR122 million in the same period last year, a decline of 41%.

The decrease is due to:

Decrease value and quantity of cement sales.

Increase in administrative and selling expenses.

The increase is due to:

Increase in value of cement sales and precast.

The decrease is due to:

Decrease value and quantity of cement sales.

Increase in administrative and selling expenses.

Decrease in share of profit in an associate.

Increase in other expenses.