Northern Cement announces 37% 1Q revenue rise

Saudi cement producer Northern Cement reported a more than nine-fold rise in net profits after zakat and tax in the first quarter of 2019, according to Mubasher. Net profit reached SAR15.51m (US$4.1m), up from SAR1.46m in the 1Q18.

Revenues remained stable at SAR113.3m in the1Q19 when compared with the 1Q18. Total profits increased by 67.8 per cent in the three months to SAR40.1m when compared with SAR23.9m in the year-ago period. Operational profits more than doubled to SAR40.1m in the 1Q19 from SAR8.9m in the 1Q18.