Saudi Arabia-based Yamama Cement recorded a net profit after zakat and tax of SAR132.6m (US$35.3m) in the 1H21, a 24 per cent fall from SAR174.8m in the same period a year ago.
The company attributed the drop in net profit to lower sales volumes. Yamama reported a net profit after zakat and tax of SAR 77.7m in 2Q21, a 53 per cent increase from SAR 50.8m in the year-ago period.
The cement producer cited higher sales, and lower provisions for zakat as well as general and administrative expenses for the profit rise.
