Riyadh – Mubasher: Hail Cement Company has registered net losses after Zakat and tax of SAR 6.89 million during the first quarter (Q1) of 2022, versus net profits worth SAR 25.87 million in Q1-21.
The company generated SAR 68.61 million in revenue in Q1-22, a 16.21% year-on-year (YoY) drop from SAR 81.89 million, according to the interim financial results.
Moreover, the loss per share settled at SAR 0.07 during the first three months (3M) of 2022, compared to earnings per share (EPS) of SAR 0.26 in the year-ago period.
On a quarterly basis, the revenues in Q1-22 surged by 38.83% from SAR 49.42 million in Q4-21, while the net losses enlarged by 44.63% from SAR 4.76 million.
Last year, Hail Cement recorded net profits after Zakat and tax worth SAR 42.40 million, lower by 60.39% than SAR 107.06 million in 2020.
