Riyadh – Mubasher: Riyadh Cement Co reported a net profit after Zakat and tax of SAR 220 million in 2020, up by 16% year-on-year (YoY) from SAR 190.03 million.
The profit increase was attributed to lower operating and financing expenses and higher sales volumes despite a fall in average selling prices, according to a bourse disclosure on Wednesday.
The cement producer generated SAR 590.29 million in sales last year, slightly down from SAR 594 million in 2019.
