Saudi Najran Cement Company achieved a net annual profit of 53.5 million riyals in 2019, compared to a loss of 83.5 million riyals in 2018.
According to ArabiaNet, the company switched to posting a quarterly profit of 35.9 million riyals for the fourth quarter of 2019, compared to a loss of 17.87 million riyals in the fourth quarter of 2018.
The company explained the increase in its annual profits by increasing the amount of sales and improving the average selling price, in addition to the low cost of sales per ton.
The company said in a statement on the website of the Saudi Stock Exchange on Monday, that its revenues increased to 416.41 million riyals, compared to 278.413 million riyals for the year 2018, an increase of 49%.
