Eastern Province Cement FY profit sees 26% drop

Full-year sales of Saudi Arabia’s Eastern Province Cement advanced 3.4 per cent to SAR784m (US$209.1m) in 2022 to SAR758m in the year-ago period.

Net profit after zakat and tax was down 25.9 per cent to SAR143m in 2022 from SAR193m a year ago as financing, precast sales, general and administrative, and general and selling expenses, and other expenses all increased.

Meanwhile, Eastern Province Cement has invited bids from specialist companies for the establishment of a new clinker production line in Najibiyah area that will have a total capacity of 10,000tpd. The move to set up the new plant comes at a time when the Saudi company has licences to extract limestone from the Khursaniyah and Najibiyah regions. 

There are also plans to replace some of its obsolete production lines at the Khursaniyah cement plant in Saudi Arabia to maximise the benefit from the infrastructure of the current plant, stated the Eastern Province Cement.