Yamama Cement’s profits declined to SR44.7 mln during Q3, by ‎‎59.7%‎

Yamama Cement Company revealed a decline in net profit after zakat and tax in the third quarter to 44.7 million riyals, compared to 101.3 million riyals in the same quarter of last year, by 59.7%. This came after today’s announcement of the preliminary financial results for the period ending on September 30, 2023 (nine months).

The operational profit reached 20.7 million riyals in the third quarter, compared to 96.5 million riyals in the same quarter of the previous year, a decrease of 78.4%.

Net profit after zakat and tax in the 9-month period amounted to 251.4 million riyals, compared to 221.6 million riyals in the same period last year, an increase of 13.4%.

Total shareholders’ equity (excluding minority rights) amounted to 4.69 billion riyals in the current period, compared to 4.50 billion riyals in the same period last year, an increase of 4.3%.

Earnings per share in the current period reached 1.24 riyals, compared to 1.09 riyals in the same period last year.

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

• Decrease in sales value for the current quarter compared to the same quarter of the previous year
• An increase in financing expenses for the current quarter compared to the same quarter of the previous year

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

• Decrease in sales value for the current quarter compared to the previous quarter
• Decrease in other revenues for the current quarter compared to the previous quarter

– The main reason for the increase in net profit for the current period compared to the similar period of the previous year is due to:

• An increase in the value of sales for the current period compared to the similar period of the previous year
• An increase in other revenues and the return of the zakat allocation for the current period compared to the similar period of the previous year.