Saudi Cement logs $80.2mln net profits in 9M-24

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Saudi Cement Company generated net profits valued at SAR 301.30 million in the first nine months (9M) of 2024, an annual rise of 8.69% from SAR 277.20 million.

Revenues amounted to SAR 1.19 billion in 9M-24, higher by 10.37% than SAR 1.08 billion in 9M-23, according to the initial financial results.

The earnings per share (EPS) increased to SAR 1.97 as of 30 September 2024 from SAR 1.81 in the year-ago period.

Financials for Q3-24

In the third quarter (Q3) of 2024, Saudi Cement recorded a 15.83% year-on-year (YoY) surge in net profit to SAR 100.20 million, versus SAR 68.30 million.

The company posted revenues valued at SAR 387.10 million in July-September 2024, an annual growth of 22.88% from SAR 315 million.

Quarterly, the Q3-24 net profits hiked by 14.77% from SAR 87.30 million in Q2-24, while the revenues climbed by 2.38% from SAR 378.10 million.