Northern Region Cement reports 9% drop in 1H net profit

Northern Region Cement Co posted net profits after zakat and tax of SAR48.09m (US$12.8m) in the first half of 2022, down 9.1 per cent from SAR52.9m in the 1H21.

Revenues declined by 13.2 per cent in the 1H22 to SAR266.68m when compared with SAR307.19m in the 1H21.

In the second quarter of 2022, Northern Region Cement Co reported net profits after zakat and tax worth SAR24.74m, up 17.6 per cent YoY from SAR21.04m in the 2Q21.

Revenues decreased by 8.2 per cent YoY to SAR133.42m from SAR145.32m in the year-ago period.