Riyadh – Mubasher: Yanbu Cement Company has posted a 24.52% year-on-year (YoY) plunge in net profit after Zakat and tax to SAR 86.97 million during the first half (H1) of 2022, compared to SAR 115.23 million.
The revenues went down by 10.33% to SAR 479.80 million in H1-22 from SAR 535.09 million in H1-21, according to the interim financial results on Tuesday.
Additionally, the earnings per share (EPS) stood at SAR 0.55 in the first six months (6M) of 2022, lower than SAR 0.73 during the same period a year earlier.
In the second quarter (Q2) of 2022, the listed firm reported net profits after Zakat and tax worth SAR 48.04 million, an annual surge of 14.85% from SAR 41.83 million.
The Q2-22 revenues declined by 1.86% YoY to SAR 238.17 million from SAR 242.69 million.
Last June, the Saudi company distributed cash dividends worth SAR 118.12 million, representing 7.50% of the capital, for H1-22.
In the January-March 2022 period, the net profits after Zakat and tax of Yanbu Cement amounted to SAR 38.93 million, a drop of 46.95% from SAR 73.39 million in Q1-21.
