Yanbu Cement sees revenue increase 5%

Saudi Arabia’s Yanbu Cement has reported a 5.4 per cent rise in revenue to SAR292.4m (US$77.97m) for the first quarter of 2021, compared to SAR277.4m in the year-ago period.

However, the company’s net profit declined 20.4 per cent YoY to SAR73.39m from SAR92.23m in the 1Q20. Despite the increase in revenues due to improved sales, a decline in the average selling price and the accompanying increase in the cost of sales led to the fall in net profit.