Umm Al-Qura Cement Company achieved 79% growth in first-quarter earnings of 2020 to reach 38.5 million riyals, compared to 21.5 million riyals in the first quarter of 2019.
According to ArabiaNet, the company's profits increased 42%, compared to the previous quarter's profit of 27 million riyals.
Umm Al-Qura Cement said that the increase in net profit during the current quarter of 2020 compared to the same quarter of the previous year to increase the quantity and value of sales and the improvement in the average selling price for the current quarter compared to the same quarter of the previous year.
She pointed to the increase in other revenues for the first quarter compared to the same quarter of the previous year, despite the increase in general, administrative and Zakat expenses during the current quarter compared to the same quarter of the previous year.
