Riyadh – Al Jouf Cement Company turned profitable at SAR 32.49 million in 2022, against net losses after Zakat and tax worth SAR 148.81 million in 2021.

The Tadawul-listed firm posted revenues worth SAR 251.86 million in January-December 2022, an annual growth of 11.19% from SAR 226.51 million, according to the interim financial results.

Earnings per share (EPS) settled at SAR 0.30 last year, versus a loss per share of SAR 1.37 in 2021.

Income statements for Q4-22

During the fourth quarter (Q4) of 2022, Al Jouf Cement also shifted to net profits after Zakat and tax worth SAR 24.74 million, compared to net losses of SAR 178.64 million in Q4-21.

Meanwhile, the revenues amounted to SAR 79.42 million in the October-December 2022 period, higher by 58.83% year-on-year (YoY) than SAR 50 million.

On a quarterly basis, the Q4-22 net profits hiked by 316.74% from SAR 5.93 million in Q3-22, while the revenues increased by 7.12% from SAR 74.14 million.

In the first nine months (9M) of 2022, the company’s net profits after Zakat and tax plummeted by 74% YoY to SAR 7.75 million from SAR 29.82 million.

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