Riyadh – Mubasher: Riyadh Cement Company achieved net profits valued at SAR 229.10 million in the first nine months (9M) of 2024, marking a 57.61% leap from SAR 145.35 million in 9M-23.
The revenues hit SAR 555.55 million in January-September 2024, higher by 17.72% than SAR 471.90 million a year earlier, according to the interim financial statements.
Earnings per share (EPS) increased year-on-year (YoY) to SAR 1.91 in 9M-24 from SAR 1.21.
Financials for Q3-24
In the third quarter (Q3) of 2024, the Saudi firm registered 405.52% YoY higher net profits at SAR 94.57 million, compared to SAR 18.70 million.
Riyadh Cement generated a 59.65% hike in revenue to SAR 203 million during July-September 2024, versus SAR 127.15 million in Q3-23.
Quarterly, the Q3-24 net profits jumped by 46.80% from SAR 64.42 million in Q2-24, while the revenues enlarged by 24.04% from SAR 163.65 million.
As of 31 March 2024, the company posted 4.43% YoY lower net profits at SAR 70.10 million, compared to SAR 73.35 million.
