Najran Cement posts SAR14.1m 3Q profit

Najran Cement Co saw its profits rise to SAR14.13m (US$3.77m) in the 3Q19, up from losses of SAR23.7m in the 3Q18, according to the company’s statement to the Saudi Stock Exchange.

Revenues were up 80.5 per cent YoY to SAR97.23m in the July-September 2019 period when compared with the equivalent period the previous year.

In the first nine months of 2019 net profits reached SAR17.6m, when compared with losses of SAR65.63m in the 9M18. Total revenues surged by 35.7 per cent YoY to SAR279.99m from SAR206.18m in the year-ago period.