The profits of the Arab Cement Company decreased by 11.4%, with a net profit of 184.9 million riyals during the year 2020, compared to 208.7 million riyals in 2019
According to Arabiya Net, the company said that the reason for the decline in net profit is mainly due to the high cost of sales and marketing expenses due to the increase in export sales quantities and the increase in the legal Zakat provision in the company. The parent, despite the increase in the value and quantity of sales in the parent company, the increase in dividends from investments in financial instruments, and the decrease in general and administrative expenses and the cost of financing, according to the company.
On the other hand, Arabian Cement announced its intention to distribute 125 million riyals to shareholders for the profits of the second half of last year.
