The profits of the City Cement Company decreased by 27.3% to reach 160.3 million riyals in 2021, compared to 220.5 million riyals during 2020.
According to Arabiya Net, the reason for the decrease in net profit during the current year compared to the previous year is due to a decrease in the value of sales, a decrease in other revenues, and an increase in the provision for zakat despite the decrease in the cost of Sales, general and administrative expenses.
The company's revenues decreased by 13.3% to reach 496.7 million riyals, compared to 572.7 million riyals during 2020.
The company's board of directors decided to distribute 70 million riyals as cash dividends to shareholders for the second half of 2021, and the share of the dividends will reach half a riyal.
