Hail Cement sees 200% increase in profit

Saudi Arabia’s Hail Cement Co has reported a 200.4 per cent rise in profits to SAR22.8m (US$6.08m) for the third quarter of 2020, compared with SAR7.59m in the year-ago period. Revenue also increased 15.2 per cent YoY to SAR71.7m in the 3Q20.

During the period from January to September, the company’s profits surged to SAR84.8m, an increase of 200.5 per cent YoY.