The profits of Qassim Cement Company declined by 29.67% in 2021, to reach 295.27 million riyals after zakat and tax, compared to 419.84 million riyals in profits for the year 2020.
According to Arabiya Net, the company said in a statement, that the reason for the decrease in net profit is due to the decrease in the quantity and value of sales and the increase in the cost of sales, despite the decrease in the value of sales. Selling, marketing, general and administrative expenses.
Also, despite the rise in the returns on financial investments, the rise in other revenues.
According to Al Arabiya.net's calculations, Qassim Cement's profits fell to 33.8 million riyals in the fourth quarter of 2021, compared to 113.09 million riyals, profits for the same quarter of 2020, with a decrease 70.08%.
