Yamama Cement saw growth in revenue and profit in 9M23

Yamama Cement Co of Saudi Arabia recently announced its interim financial results for nine months, ending on 30 September 2023, at the Saudi stock exchange. The company earned a net profit after tax of SAR251.49m (US$67m) against SAR221.64m during this period, depicting a 13.46 per cent YoY growth.

The sales/revenue also saw an upsurge to SAR710.64m from SAR673.6m with a note of 5.49 per cent growth. The company reports that the main reason for the increase in net profit for the current period compared to the similar period of the previous year is due to:
• Increase in sales value for the current period compared to the similar period of the previous year.
• Increase in other revenues and refund of zakat provision for the current period compared to the similar period of the previous year.