The financial statements of Hail Cement Company showed a decline in the company's profits last year by 60.4% compared to the profits of 2020.
According to the company's results for the Saudi market (Tadawul), today, Tuesday, profits last year amounted to 42.41 million riyals, compared to profits in 2020 of 107.06 million riyals.
The company said in a statement to the stock exchange that the decline in profits during the comparative years is mainly due to the decline in revenues.
The company's total revenue last year amounted to about 253.31 million riyals, compared to 336.28 million riyals in 2020, a decrease of 24.7%.
The company's total shareholders' equity (after excluding minority rights) decreased by 4.9%, to reach last year 1.105 billion riyals, compared to 1.162 billion riyals in 2020.
