Northern Cement profits up 17% to SR25 mln in 2Q

Northern Region Cement Co. announced that its profits after zakat and tax rose 17.6% to SR 24.7 million in the second quarter of 2022 compared to SR 21.04 million during the same period of 2021.

This came after Northern Cement announcement on Thursday of the preliminary financial results for the period ending on 30.06.2022 (six months).

The company’s operational profits surged 23.6% to SR 32.8 million in the 2^nd quarter of the current year from SR 26.5 million in the same period of the previous year.

Net Profits of Northern Cement over the first half of 2022 were down 9.09% to SR 48.09 million from SR 53 million a year ago, while the profit per share fell to SR 0.27 from SR 0.29.

The increase in Q2 2022 compared to Q2 2021, was mainly due to an increase in income from foreign Investment.

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is mainly due to the decrease in sales volume and value.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is mainly due to income increase from foreign Investment.