Riyadh – Mubasher: City Cement Company registered an annual decrease of 25.5% in net profits after Zakat and tax to SAR 38.04 million during the third quarter (Q3) of 2021 from SAR 51.1 million in Q3-20.
Sales shrank by 20.6% year-on-year (YoY) to SAR 111.57 million in Q3-21 from SAR 140.6 million, according to the initial financial results on Monday.
On a quarterly basis, the net profits in July-September 2021 were 23% lower than SAR 49.7 million in Q2-21, while the revenues declined by 6.8% from SAR 119.82 million.
As for the first nine months of 2021, City Cement registered a YoY drop of 5.7% in net profits to SAR 153.77 million from SAR 163.22 million.
Earnings per share stood at SAR 1.1 at the end of September 2021, compared to SAR 0.86 in the same period last year.
Revenues went down 4% YoY to SAR 402.02 million in January-September 2021 from SAR 419.74 million.
