The preliminary results of Hail Cement Company showed a decrease in net profit by 73.9% to reach 5.95 million riyals after zakat and tax in the third quarter of 2021, compared to 22.83 million riyals in the same quarter of 2020.
According to Arabia Net, and on a quarterly basis, the company's profits decreased by 61.18% in the third quarter of 2021, compared to profits of 15.34 million riyals in the previous second quarter.< /p>
The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to the decrease in revenues and the increase in expenses, the company said in a statement on Saudi Tadawul today, Thursday.
The company's sales decreased by 21.76% in the third quarter of this year, to 56.08 million riyals, compared to 71.67 million riyals in the third quarter of 2020.
The company's profits fell in the first nine months of 2021 by 44.37% to 47.17 million riyals, compared to 84.8 million riyals in the same period of the previous year.
