The profits of Hail Cement Company decreased by 29.4% to reach 15.34 million riyals after zakat and tax in the second quarter of 2021, compared to 21.75 million riyals, profits for the same quarter of 2020.
According to Arabiya Net, Hail Cement's profits decreased in the second quarter of 2021, by 40.7%, compared to profits of about 25.9 million riyals in the first quarter of 2021.
The company said in a statement on the Saudi Tadawul, today, Monday, that the decrease in net profit during the second quarter of this year, compared to the same quarter of the previous year, is due to a decrease in revenues and an increase in expenses.
Hail Cement's net profit decreased by 33.49% in the first half of this year, to 41.2 million riyals, compared to 61.97 million riyals, profits for the first half of 2020.
The net profit of Hail Cement Company, after zakat and tax, decreased by 35.7% in the first quarter of 2021, to record 25.87 million riyals, compared to 40.22 million riyals in the same quarter of 2020.
