‎“Arabian Cement” profits declined 37.7% during Q2, to SR 28 ‎million ‎

Arabian Cement Company revealed a decline in net profit after zakat and tax in the second quarter to 28 million riyals, compared to 45 million riyals in the same quarter of last year, a decrease of 37.7% months).

Operational profit amounted to 26.4 million riyals in the second quarter, compared to 45.6 million riyals in the same quarter of last year, a decrease of 42.1%.

The gross profit amounted to 46.6 million riyals in the second quarter, compared to 68 million riyals in the same quarter of last year, a decrease of 31%.

The net profit after zakat and tax during the 6-month period amounted to 77.2 million riyals, compared to 87 million riyals in the same period last year, a decrease of 11.1%.

Earnings per share in the current period reached 0.77 riyals in the current period, compared to 0.87 riyals in the same period last year.

The reason for the decrease in net profit is mainly due to: the decrease in the quantity and value of sales due to the decline in demand and the coincidence of the period with Eid Al-Adha, despite the increase in the average selling price of the parent company.

The reason for the decrease in net profit is mainly due to: The decrease in the quantity and value of sales due to the coincidence of the period with the blessed month of Ramadan and the period of Eid Al-Fitr and Eid Al-Adha.

The reason for the decrease in net profit is mainly due to: the decrease in the quantity and value of sales of the parent company due to the decline in demand and the coincidence of the period with Eid Al-Adha, despite the increase in the average selling price of the parent company.