The financial statements of Qassim Cement Company showed a decline in the company's profits in the first nine months of this year by 14.8% on an annual basis.
According to the company's results for the Saudi market (Tadawul), today, Monday, the profits for the period amounted to 261.43 million riyals, compared to the profits for the first nine months of 2020 amounting to 306.75 million riyals.
The company achieved a profit of 60.38 million riyals in the third quarter of this year, compared to a profit of 110.11 million riyals in the corresponding period of 2020, a decline of 45.2%.
The company said in a statement to the market that the decline in profits during the comparison periods is due to the decrease in the value and quantity of sales, as sales fell by 26.5% to 170.31 million riyals, compared to 231.575 million riyals. Real in the comparative quarter of last year.
