City Cement reports 12% increase in net profit

Saudi Arabia’s City Cement saw a 12.2 per cent rise in net profit to SAR36.2m (US$9.65m) in the second quarter of 2020, compared with SAR32.25m in the corresponding period of last year. 

The higher profits have been attributed to a growth in sales and other revenues, alongside a decline in costs.

The company also reported a 44.8 per cent increase in net profit after zakat to SAR106.66m for the 1H20, against SAR73.67m in the first half of 2019.