According to the results of the company for the Saudi market (Tadawul) today, Wednesday, the profits of the period reached 85 million riyals, compared to 46 million riyals of the same period last year.
The company said in a statement to the Stock Exchange that the increase in profits during the comparison periods is due to the increase in cement sales due to the improvement in domestic demand, lower general expenses, and selling and marketing.
The company also attributed the increase to higher revenues from investments and a share in the results of associates in the equity method.
The company achieved 28.8% profit growth for the fourth quarter of 2019, which amounted to 66 million riyals at the time.
