Umm Al Qura Cement sees 17% decline in profit

Saudi Arabia’s Umm Al Qura Cement has seen a 16.8 per cent decline in net profit to SAR49.45m (US$13.19m) in the first half of 2021, compared to SAR59.48m in the year-ago period.

Sales also decreased 2.9 per cent YoY to SAR154.3m from SAR159.01m in the 1H20.

The company also announced the resignation of its CEO, Fawaz bin Saleh Al-Mutairi, which will take effect from 1 September 2021.