Northern Region Cement sees 78% rise in profit

Saudi Arabia’s Northern Region Cement Co has reported a 78 per cent increase in net profit to SAR27.6m (US$7.36m) in the first quarter of 2020, compared to SAR15.5m in the year-ago period.

Revenue surged 44 per cent YoY to SAR180.1m from SAR124.3m in the 1Q19. The increase in profits has been attributed to higher sales volumes and lower financing charges.