Riyadh – Mubasher: Umm Al Qura Cement Company registered a 113.43% surge in net profit to SAR 14.46 million during the first quarter (Q1) of 2024 compared with SAR 6.77 million in Q1-23.
The earnings per share (EPS) went up to SAR 0.26 in Q1-24 from SAR 0.12 in Q1-23, according to the income statement.
The sales soared by 37.15% to SAR 64.68 million during the January-March 2024 period from SAR 47.15 million in the corresponding three months (3M) last year.
On a quarterly basis, the company turned to net profits in Q1-24 from net losses of SAR 6.09 million in Q4-23, while the revenues increased by 28.23% from SAR 50.43 million.
In 2023, Umm Al Qura Cement posted lower net profits at SAR 3.95 million and a decrease in revenue to SAR 168.94 million.
