Saudi: Al Jouf Cement’s profits shrink to $8.13mln in 9M-24

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Riyadh – Al Jouf Cement Company recorded 30.80% lower net profits at SAR 30.61 million in the first nine months (9M) of 2024, compared to SAR 44.24 million in 9M-23.

Revenues amounted to SAR 234.93 million in 9M-24, up 7.98% from SAR 217.74 million in the year-ago period, according to the initial financial results.

The earnings per share (EPS) dropped to SAR 0.28 as of 30 September 2024 from SAR 0.41 in 9M-23.

Financials for Q3-24

In the third quarter (Q3) of 2024, the Saudi firm witnessed an annual plunge of 66.41% in net profit to SAR 10.03 million, compared to SAR 29.88 million.

Al Jouf Cement posted revenues amounting to SAR 74.99 million in July-September 2024, an annual decline of 5.76% from SAR 79.51 million.

Quarterly, the Q3-24 profits hiked by 23.52% from SAR 8.12 million in Q2-24, while the revenues fell by 3.88% from SAR 77.96 million.