Northern Region Cement posts 5% increase in 2022 net profit

Revenues of Northern Region Cement Co in Saudi Arabia increased by 10 per cent to SAR617.95m in 2022 from SAR561.91m in 2021.

Net profits after zakat and tax advanced 5.4 per cent YoY to SAR112.45m from SAR106.67m in 2021.

Earnings per share increased to SAR0.62 on 31 December 2022, up from SAR0.59m in the previous year.

Appointments
The company also announced Sulaiman Salim Al Harbi and Faisal Hamad Al Sugar as the new chairman and vice-chairman of the board, respectively for the next three years. The board also named Saud Saad Al Arifi as new managing director.

The officials assume their roles for a new board term that started on 16 march 2023 and will remain in position until 15 March 2026.