Eastern Province Cement records a net profit of 41 million riyals in Q3

Eastern Province Cement Company’s net profit amounted to 41 million riyals during the third quarter of 2024, compared to 41 million riyals in the same quarter of last year. This came after the announcement today of the financial results for the period ending September 30, 2024 (9 months).

Operating profit amounted to 61 million riyals in the third quarter, compared to 44 million riyals in the same quarter of the previous year, an increase of 38.6%.

Earnings per share in the current period reached 1.97 riyals, compared to 1.72 riyals in the same period last year.

According to the company, the reason for the stability in net profit despite the increase in operating profit is due to the increase in the quantity and value of cement sales. – And a decrease in the value of investment in an associate company.