Saudi Cement Company achieved a 28.19% increase in its third quarter 2020 profits to reach 106.4 million riyals, compared to about 83 million riyals for the third quarter of last year. >
According to Arabiya Net, the company explained in a statement to Tadawul that the increase in net profits is mainly due to the increase in sales, in addition to the increase in the company's share in corporate profits. Associate, higher other income, lower finance and administrative and general expenses.
and she indicated that the increase in net profits came despite the increase in selling and distribution expenses and the increase in zakat provision.
and on a quarterly basis, the company's profits rose by 42.8%, compared to the profits of the previous quarter, which amounted to 74.5 million riyals.
The company's results revealed, in the first nine months of 2020, an increase in net profit after zakat and tax to 328.5 million riyals compared to 307.8 million riyals for the same period in 2019, an increase of 6.7 %.
