Riyadh Cement profit jumps 64% to SAR 310 million in 2024

Riyadh Cement Co. posted a 64% surge in net profit to SAR 310 million ($82.7 million) in 2024, up from SAR 189 million a year earlier, according to its annual financial results for the period ended Dec. 31.

Operating profit rose 48% to SAR 297 million from SAR 201 million in 2023.

Total shareholders’ equity, after deducting minority interest, grew 6% to SAR 1.78 billion, compared to SAR 1.67 billion a year earlier.

Earnings per share climbed to SAR 2.59, up from SAR 1.57 in 2023.