‎“City Cement” profits rose to SR28 mln during Q1, by 61%‎

The net profit after zakat and tax for Al Madina Cement Company grew to 28 million riyals during the first quarter, compared to 17 million riyals in the same quarter of last year, by 61%. This came after the announcement today of the preliminary financial results for the period ending on 31-03- 2023 (three months).

The operational profit amounted to 24 million riyals in the first quarter, compared to 18 million riyals in the same quarter of the previous year, an increase of 38%.

As for the total profit, it amounted to 33 million riyals in the current period, compared to 26 million riyals in the same period last year, an increase of 25%.

Earnings per share in the current period amounted to 0.2 riyals, compared to 0.12 riyals in the same period last year.

The main reason for the increase in net profit for the current quarter compared to the same quarter of the previous year is due to:

The increase in the sales value as a result of the increase in the average selling price

The main reason for the decrease in net profit for the current quarter compared to the previous quarter is due to:

The decline in the value and quantity of sales and the decrease in the average selling price.