Riyadh – Mubasher: Hail Cement Company turned to net losses after Zakat and tax worth SAR 13.72 million in the first half (H1) of 2022, against a net profit of SAR 41.21 million in H1-21.
Revenues surged by 11.59% year-on-year (YoY) to SAR 164.93 million in H1-22 from SAR 147.80 million, according to the initial financial results.
The loss per share stood at SAR 0.14 in the first six months (6M) of 2022, compared to earnings per share (EPS) of SAR 0.42 in the year-ago period.
During the second quarter (Q2) of 2022, the company reported net losses after Zakat and tax of SAR 6.82 million, versus net profits worth SAR 15.34 million in Q2-21.
The revenues jumped by 46.13% YoY to SAR 96.31 million in Q2-22 from SAR 65.91 million.
In the January-March 2022 period, Hail Cement incurred net losses after Zakat and tax worth SAR 6.89 million, compared to net profits of SAR 25.87 million during the same period a year earlier.
