Riyadh – Mubasher: Northern Region Cement Company posted a 6.81% decline in net profit after Zakat and tax to SAR 21.75 million during the first quarter (Q1) of 2023, versus SAR 23.34 million in Q1-22.
The Saudi firm generated revenues amounting to SAR 181.08 million in January-March 2023, up 35.89% year-on-year (YoY) from SAR 133.26 million, according to interim financial results.
Earnings per share (EPS) inched down to SAR 0.12 during Q1-23 from SAR 0.13 in the year-ago period.
On a quarterly basis, the Q1-23 net profits fell by 40.76% from SAR 36.72 million in Q4-22, while the revenues dropped by 2.12% from SAR 185.01 million.
Last year, Northern Region Cement achieved net profits after Zakat and tax valued at SAR 112.45 million, a 5.41% growth from SAR 106.67 million in the January-December 2021 period.
