Riyadh – Mubasher: The net profits after Zakat and tax of Qassim Cement Company amounted to SAR 54.93 million during the first quarter (Q1) of 2023, an annual surge of 119.02% from SAR 25.08 million.
The firm posted a 22.16% year-on-year (YoY) leap in revenue to SAR 174.07 million during Q1-23, compared to SAR 142.49 million in Q1-22, according to the interim financial results.
Earnings per share (EPS) stood at SAR 0.61 in the first three months (3M) of 2023, versus SAR 0.28 in the year-ago period.
On a quarterly basis, the Q1-23 net profits after Zakat and tax increased by 3.58% from SAR 53.04 million in Q4-22, while the revenues plummeted by 19.80% from SAR 217.05 million.
Last year, Qassim Cement registered net profits after Zakat and tax worth SAR 130.51 million, a 55.28% drop from SAR 291.87 million as of 31 December 2021.
