The Saudi Cement Company recorded an increase in its profits by 14% to reach 86.4 million riyals in the second quarter of 2021, compared to 75.7 million riyals in the same period last year.
According to Arabia Net, the profits of the first half of the year for Saudi Cement Company fell by 8% to 205.8 million riyals, compared to 224.2 million riyals in the first half of 2020. .
The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to the increase in sales, the increase in the company's share in the net results of associate companies, and the decrease in financing expenses. This is despite the increase in general and administrative expenses, the increase in selling and marketing expenses, and the decrease in other revenues, according to the company’s statement on the Saudi market’s website, Tadawul.
As for the decrease in net profit during the first half compared to the same period of the previous year, it is attributed to the decline in the average selling price, the increase in selling and marketing expenses, and the decrease in other revenues, on the Despite the increase in sales volumes, the company's share in the net results of associate companies, and the decrease in financing expenses.
