‎“Yanbu Cement” profits increased to SR 215.4 mln during 2022, ‎by 35%‎

The net profit after zakat and tax of Yanbu Cement Company grew to 215.4 million riyals during the year 2022 AD, compared to 160 million riyals in the previous year, at a rate of 35%. This came after today’s announcement of the annual financial results ending on 12-31-2022.

The operational profit amounted to 233 million riyals during the year ending on December 31, 2022, compared to 176 million riyals in the previous year, an increase of 33%.

As for gross profit, it amounted to 285 million riyals in the current year, compared to 224 million riyals in the previous year, with a growth of 27%.

Earnings per share in the current year amounted to 1.37 riyals, compared to 1.01 riyals in the previous year.

The reason for the increase in net profit during the current year compared to the previous year is due to:

1. The improvement in the average selling price for domestic and foreign sales
2. The decrease in the cost of sales as a result of the increase in the quantities of clinker production
3. Increased company profits

The company said that some comparative figures have been reclassified to conform to the current presentation.