Riyadh – Mubasher: Riyadh Cement Company posted an annual decline of 4.43% in net profit to SAR 70.10 million during the first quarter (Q1) of 2024, compared to SAR 73.35 million.
Revenues edged down by 0.59% to SAR 188.89 million as of 31 March 2024 from SAR 190.01 million in Q1-23, according to the interim financial results.
The lower revenues were attributed to a decrease in the quantity of sales during the current quarter compared to the January-March 2023 period.
The earnings per share (EPS) amounted to SAR 0.58 in the first three months (3M) of 2024, down year-on-year (YoY) from SAR 0.61.
In the 12-month period that ended on 31 December 2023, Riyadh Cement logged net profits amounting to SAR 188.77 million, lower by 0.56% YoY than SAR 189.83 million.
