Tuesday, 28 May 2024

City Cement Profits decreased by 28% to SAR 115 million at the end of 2022


The net profit of City Cement Co., after deducting Zakat and Tax, decreased to SAR 115 million during 2022, compared to SAR 160 million in the previous year with a percentage of 28%. This came after the Company announced its Annual Financial Results for the period ending on 12-31-2022 on Sunday.

The operational profit amounted to SAR 111 million during the year ending in 2022, compared to SAR 174 million in the previous year, a decline of 36%.

While profit per share in the current year amounted to SAR 0.82, compared to SAR 1.14 in the previous year.

اقرأ المزيد

The company stated that the main reason for the decrease in net profit during this year compared to the previous year is: the decrease in the value and quantity of sales.