Arabian Cement has recorded an eight per cent increase in revenue to SAR241m (US$64.2m) in the third quarter of 2022, compared to the same period a year earlier. Profit over the same timeframe has advanced by 57 per cent to SAR59m.
Results for the opening nine months of 2022 show a six per cent YoY uptick in profit, despite sales declining by six per cent. Profits for the nine-month period came in at SAR146m, versus SAR138m in the 9M21, according to Arab News. The rise in profits is being attributed to associate companies’ profits, along with an increase in income from other sources, lower finance costs, and a decline in zakat and income tax provisions, says Arabian Cement.
The company currently operates one integrated in Rabigh.
