The financial statements of the Southern Region Cement Company showed that the company's profits for the first quarter of this year increased by 52.5% on an annual basis.

According to the results of the company for the Saudi market (Tadawul) today, Sunday, the profits of the period reached 183 million riyals, compared to profits of 120 million riyals for the first quarter of 2019. p>

The company said in a statement to the stock exchange that the increase in profits during the comparison periods is due to an increase in sales revenue of 33.63%, an increase in the amount of domestic sales 27.47%, and an increase in export sales 48.60%.

The company also attributed the rise in profits to the increase in other miscellaneous income 335.41%, in addition to the decrease in the financial charges for the current quarter compared to the same quarter of 2019 by 31.12%.

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