Qassim Cement Q2 Profit Soars 91% to SAR 73 Million

Qassim Cement Company reported a 91% surge in net profit for the second quarter of 2024, reaching SAR 73 million, compared to SAR 38 million in the same period last year. The company announced these preliminary financial results for the six months ending June 30, 2024.

Operating profit for the quarter climbed to SAR 75 million, a significant 164% increase from SAR 28 million in Q2 of the previous year.

Net profit for the first half of 2024 stood at SAR 147 million, up 58% from SAR 93 million in the same period last year.

Earnings per share for the current period rose to SAR 1.6, compared to SAR 1.03 in the prior year.

The company attributed the profit increase to higher sales volumes and an increase in the average selling price.