Al Jouf Cement records 20% revenue advance

Al Jouf Cement has reported revenue of SAR301.49m (US$80.4m) in 2023, up 19.7 per cent on the previous year. According to the company, the increase is due to improved sales volumes and average selling prices. The cement producer has also reported lower production costs backed by continued operating efficiency efforts. Operating income in 2023 came in at SAR115.83m, marking a YoY advance of 59.1 per cent. 

In the fourth quarter of 2023, revenue stood at SAR83.74m, up 5.4 per cent on the same period a year earlier. Over the same timeframe, operating income declined by 111.4 per cent from SAR29.49m to a loss of SAR3.38m. Net income also contracted YoY, falling from SAR23.14m in the 4Q22 to SAR12.09m in the 4Q23.