Saudi: Najran Cement’s net profits fall to $7.73mln in H1-24

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Riyadh – Najran Cement Company witnessed an annual drop of 20.09% in net profit to SAR 29.04 million during the first half (H1) of 2024, compared to SAR 36.34 million.

The Tadawul-listed firm posted revenues amounting to SAR 251.39 million in H1-24, up 2.61% year-on-year (YoY) from SAR 244.98 million, according to the financial results.

Earnings per share (EPS) dropped to SAR 0.17 as of 30 June 2024 from SAR 0.21 in the year-ago period.

Financial Results for Q2-24

In the second quarter (Q2) of 2024, the net profits stood at SAR 7.49 million, marking a rise of 1.79% from SAR 7.36 million a year earlier.

Revenues widened by 11.81% to SAR 113.26 million in Q2-24 from SAR 101.29 million in Q2-23.

Quarter-on-quarter (QoQ), the profits in Q2-24 retreated by 65.21% from SAR 21.54 million in Q1-24, while the revenues plunged by 17.99% from SAR 138.12 million.