Southern Cement records sales of SAR1653m in 2020

Southern Cement reported sales in 2020 of SAR1653m (US$440.8m), up 27 per cent YoY due to an increase in sales volume which increased by 24 per cent YoY, while net income for the year was up 32 per cent YoY reaching SAR609m. 

For 4Q20 Southern Cement reported sales of SAR431m, with an increase of nine per cent YoY and one per cent QoQ, supported by higher total sales volumes, which were up eight per cent YoY but declined by two per cent QoQ to reach 2.1Mt in 4Q20.

There was an improvement in the average selling price by three per cent QoQ to SAR202/t. Southern announced a net profit of SAR141m, down 13 per cent YoY,  down six per cent QoQ for 4Q20.