Saudi Arabia’s Yamama Cement (YSCC) registered revenue of SAR211m (US$56m) in FY20,a YoY drop of 10.8 per cent. Cement sales volumes for 4Q20 reached at 1.19Mt. Gross profit and operating income fell by 23.2 per cent YoY and 24.8 per cent YoY, respectively.

For 2020 YSCC registered a volume growth of 17.9 per cent YoY. Growth was aided by strong momentum in real estate activities in the local market, reports Trade Arabia.

“The operating performance during the quarter was impacted by high price competition in the region. However, we expect the same to abate, going forward, and we expect average realisations to improve gradually, given the expected improvement in utilisation,” Al Rajhi Capital said in the report.