Riyadh – Mubasher: Yanbu Cement Company achieved SAR 86.29 million in net profit after Zakat and tax during the first half (H1) of 2023, down 0.78% from SAR 86.97 million in H1-22.
The revenues shrank by 17.14% year-on-year (YoY) to SAR 397.56 million in H1-23 from SAR 479.80 million, according to the interim financial statements.
Earnings per share (EPS) remained unchanged at SAR 0.55 in the six-month period that ended on 30 June 2023.
Financial Results for Q2-23
Yanbu Cement posted 26.58% lower net profits after Zakat and tax at SAR 35.27 million in the second quarter (Q2) of 2023, versus SAR 48.04 million in Q2-22.
Revenues were valued at SAR 173.56 million in the April-June 2023 period, a 27.13% drop from SAR 238.17 million a year earlier.
On a quarterly basis, the Q2-23 profits decreased by 30.86% from SAR 51.01 million in Q1-23, while the revenues plunged by 22.52% from SAR 224.01 million.
Last June, the Tadawul-listed firm paid a total of SAR 236.25 million as cash dividends for H1-23.
