Saudi: Al Jouf Cement records 43% higher profits in H1-24

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Riyadh – Al Jouf Cement Company posted net profits valued at SAR 20.57 million in the first half (H1) of 2024, higher by 43.33% year-on-year (YoY) than SAR 14.35 million.

The revenues hit SAR 160 million in H1-24, up 15.75% from SAR 138.22 million a year earlier, according to the interim financial results.

Earnings per share (EPS) increased to SAR 0.19 in the January-June 2024 period from SAR 0.13 in H1-23.

Financial Results for Q2-24

During the second quarter (Q2) of 2024, Al Jouf Cement generated SAR 8.12 million in net profit, marking a 98.94% YoY leap from SAR 4.04 million.

Revenues witnessed a 14.72% surge to SAR 77.96 million in the three-month period that ended on 30 June 2024, compared to SAR 67.95 million in Q2-23.

Quarter-on-quarter (QoQ), the profits in Q2-24 plummeted by 34.73% from SAR 12.45 million in Q1-24, while the revenues dropped by 4.97% from SAR 82.04 million.