The Saudi Ceramic Company recorded a 33.4% decline in net profits for the first half of this year to reach about 89.3 million riyals, compared to 134 million riyals in the same period last year.
According to Arabiya Net, the company explained in a statement that the reason for the decline in profits is due to the decrease in the quantities sold during the first 6 months of 2022, in addition to the high costs of some production inputs.
She pointed to the impact of the temporary suspension of some factories due to gas supplies in the second quarter of this year.
The company's profits fell during the second quarter of this year to about 37.9 million riyals, a decline of 40%, compared to profits of 63.3 million riyals achieved by the company in the same quarter of the previous year.
She indicated that the reason for this is due to the decline in sales and the high costs of some production inputs.
She pointed out that the second quarter was affected by the temporary suspension of some factories due to the suspension of gas supplies by Aramco for maintenance at the beginning of May, and this was previously announced on the company's page on the Tadawul website.
