Riyadh – Mubasher: Saudi Ceramic Company (Saudi Ceramics) logged a 90.10% year-on-year (YoY) plunge in net profit to SAR 4.74 million during the first half (H1) of 2024 from SAR 48 million.
Sales edged lower to SAR 621.91 million in H1-24 from SAR 621.93 million in H1-23, according to the interim financial results.
The earnings per share (EPS) reached SAR 0.05 between 1 January and 30 June, down from SAR 0.48 in the same period the year before.
Second Quarter
During the second quarter (Q2) of 2024, Saudi Ceramics turned to a net loss of SAR 10.81 million, versus a net profit of SAR 33.29 million in Q2-23.
Sales rose by 9.13% to SAR 276.15 million in Q2-24 from SAR 253.04 million.
Quarter-on-quarter (QoQ), the company turned to loss in Q2-24, compared to a net profit of SAR 15.56 million in the previous quarter, while sales plummeted by 20.13% from SAR 345.76 million.
In Q1-24, Saudi Ceramics’ net profit grew by 5.82% YoY to SAR 15.56 million from SAR 14.70 million.
