Riyadh – Mubasher: City Cement Company has logged net profits after Zakat and tax worth SAR 17.15 million during the first quarter (Q1) of 2022, an annual plunge of 74.01% from SAR 66.01 million.
Revenues stood at SAR 108.10 million in the January-March 2022 period, down 36.64% from SAR 170.62 million during the same period in 2021, according to a bourse disclosure.
The earnings per share (EPS) plummeted to SAR 0.12 in Q1-22 from SAR 0.47 in Q1-21.
On a quarterly basis, the company’s revenues in Q1-22 increased by 14.15% from SAR 94.70 million in Q4-21, while the net profits jumped by 163.69% from SAR 6.50 million.
In 2021, the Saudi listed firm posted a 27.30% year-on-year (YoY) drop in net profit after Zakat and tax to SAR 160.28 million, compared to SAR 220.49 million.
