Yanbu Cement 2Q profits down 25% in 1H22

Yanbu Cement 2Q profits down 25% in 1H22
28 July 2022


Saudi Arabian cement producer Yanbu Cement Co reported a 24.5 per cent fall in its net profits after zakat and tax to SAR86.97m (US$23.2m) when compared with the 1H21, when the company achieved profits of SAR115.23m. Revenues were down by 10.3 per cent to SAR479.8m in the 1H22 from SAR353.09m in the 1H21.

While second-quarter revenues slipped by 1.9 per cent YoY to SAR238.17m from SAR242.69m in the 2Q21, 2Q22 net profits after zakat and tax advanced 14.9 per cent to SAR48.04m from SAR41.83m.

Published under Cement News