City Cement Company achieved net profits valued at SAR 103.03 million in the first nine months (9M) of 2024, marking an 82.99% leap from SAR 56.30 million in 9M-23.

The revenues hit SAR 361.21 million in the January-September 2024 period, higher by 40.70% than SAR 256.72 million a year earlier, according to the interim financial statements.

Earnings per share (EPS) increased year-on-year (YoY) to SAR 0.74 in 9M-24 from SAR 0.40.

Financials for Q3-24

In the third quarter (Q3) of 2024, the Saudi company witnessed 661.72% YoY higher net profits at SAR 33.65 million, compared to SAR 4.41 million.

City Cement registered an 84.07% hike in revenue to SAR 130.11 million during the three-month period that ended on 30 September 2024, versus SAR 70.68 million in Q3-23.

Quarterly, the Q3-24 net profits jumped by 21.14% from the SAR 27.78 million reported in Q2-24, while the revenues enlarged by 16.91% from SAR 111.28 million.

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