Riyadh – Mubasher: Arabian Cement Company posted net profits after Zakat and tax valued at SAR 106.90 million in the first nine months (9M) of 2023, down 26.73% from SAR 145.90 million in 9M-22.
Revenues declined by 10.97% to SAR 650.60 million in 9M-23 from SAR 730.80 million in the same period during 2022, according to the interim income statements.
The earnings per share (EPS) stood at SAR 1.07 as of 30 September 2023, marking a year-on-year (YoY) drop from SAR 1.46.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, the Tadawul-listed firm witnessed a 49.66% YoY plunge in net profit after Zakat and tax to SAR 29.70 million, versus SAR 59 million.
Arabian Cement generated revenues amounting to SAR 213.70 million during July-September 2023, an annual decrease of 11.18% from SAR 240.60 million.
On a quarterly basis, the Q3-23 profits increased by 6.07% from SAR 28 million in April-June 2023, while the revenues grew by 8.59% from SAR 196.80 million.
