‎“Najran Cement” profits decline to SR114 mln during 2022, by ‎‎31%‎

Najran Cement Company revealed a decline in net profit after zakat and tax during the year ending on December 31, 2022 to 113.7 million riyals, compared to 165.5 million riyals in the previous year, at a rate of 31.2%. This came after today’s announcement of the annual financial results ending on 12-31-2022 AD.

The operational profit amounted to 128.3 million riyals during the year ending on December 31, 2022, compared to 181 million riyals in the previous year, a decrease of 29%.

The total shareholders’ equity “without minority rights” amounted to 1.99 billion riyals in the current year, compared to 1.96 billion riyals in the previous year, an increase of 1.4%.

Earnings per share in the current year reached 0.67 riyals, compared to 0.97 riyals in the previous year.

– The reason for the decrease in net profit during this year compared to the previous year is due to the decrease in the value of sales as a result of the decrease in selling prices, the increase in the cost of production inputs and the increase in financing expenses, despite the decrease in selling and marketing expenses and the increase in other revenues.