The City Cement Company's financial statements showed a decline in the company's profits in the first nine months of this year by 5.8%, on an annual basis.
According to the company's results for the Saudi market (Tadawul), today, Monday, the profits for the period amounted to 153.78 million riyals, compared to the profits for the first nine months of 2020 amounting to 163.20 million riyals.
The company achieved a profit of 38.05 million riyals in the third quarter of this year, compared to a profit of 51.1 million riyals in the same period of 2020, a decrease of 25.6%.
The company said in a statement to the stock exchange that the decline in profits during the comparison periods is mainly due to the decrease in the value and quantity of sales in addition to the decrease in other revenues.
