Najran Cement Company recorded a growth of 562.4% in the profits for the first quarter of 2020 to reach 40.1 million riyals, compared to 6 million riyals in the first quarter of 2019.
According to ArabiaNet, the quarterly profit jumped 11.69%, compared to the previous quarter’s profit of 35.9 million riyals.
The value of operating profit of Najran Cement Company in the first quarter was 46 million riyals, compared to 14 million riyals, in the corresponding period of 2019, a growth of 228%.
The company said that the increase in net profit during the current quarter compared to the same quarter of the previous year is due to the increase in the amount of sales, the decrease in the cost of sales per ton, and the decrease in the cost of financing.
