The financial statements of Yanbu Cement Company showed that the company's profits during the first nine months of this year increased by 20.1% on an annual basis.
According to the company's results for the Saudi market (Tadawul), today, Thursday, profits for the period amounted to 210.12 million riyals, compared to 174.9 million riyals profits for the same period in 2019.
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The company said in the statement that the increase in profits during the comparison periods is due to the decrease in the cost of revenues, the decrease in administrative, general and selling expenses, as well as the decrease in financing expenses despite the decrease in revenues. p>
The company recorded revenues of 674.69 million riyals in the first nine months of this year, compared to 697.35 million riyals for the same period of 2019, a decrease of 3.3% / p>
The net profit of the company in the third quarter of this year amounted to 82.48 million riyals, an increase of 33.2% over the profits of the same period last year amounting to 61.94 million riyals.
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