Riyadh Cement reports drop in 1H profit

Saudi Arabian cement producer Riyadh Cement Co posted a 28.8 per cent decline in 1H22 sales to SAR285.6m (US$76.2m) from SAR401.4m in the 1H21.

The company’s net profit after zakat and tax fell by 46.9 per cent to SAR85.1m in the 1H22 from SAR160.4m in the 1H21.