Riyadh – Mubasher: The financial results of the Arabian Cement Company, for the second quarter of 2022, revealed an increase in net profits by 34.33%, compared to the same quarter of 2021, in light of the increase in selling prices and the increase in the company’s share in the profits of associates.
According to the company’s data, on the Saudi Tadawul, today, Tuesday, the net profit following zakat and tax rose to 45 million riyals, compared to 33.5 million riyals for the same period last year.
The company attributed the increase in net profits to the increase in the average selling price, the increase in the company’s share of the profits of associate companies, in addition to the decrease in general and administrative expenses, selling and marketing expenses, and financing costs.
She pointed out that the increase in net profit came despite the decrease in the amount of sales in the parent company and its subsidiary in Jordan.
On a quarterly basis, the company’s profits increased by 7.4%, compared to the profits of the previous quarter, which amounted to 41.9 million riyals.
The company’s results showed that net profits fell 13.53% in the first half of 2022 to 86.9 million riyals, compared to 100.5 million riyals during the same period in 2021.
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