Saudi Arabia’s Southern Province Cement has reported a 31.5 per cent rise in net profit after zakat and tax to SAR609m (US$162.4m) in 2020, compared with SAR463m in the previous year.
The company attributed the increase in net profit to higher sales revenue, a decrease in financing costs and an increase in other miscellaneous revenues, according to a statement.
Its revenue also advanced 27.2 per cent YoY to SAR1.65bn from SAR1.3bn in 2019.
![Daily Email](/images/cemnetairmail.gif)
Sign up for our Daily News Service
Our editors' pick the top news delivered to your inbox each day.
Sign up for the daily email