Saudi: Northern Region Cement sees 53% higher profits in H1-24

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Northern Region Cement Company generated net profits valued at SAR 63.40 million in the first half (H1) of 2024, higher by 53.34% year-on-year (YoY) than SAR 41.34 million.

The revenues hit SAR 286.64 million in H1-24, marking a drop of 15.45% from SAR 339.03 million a year earlier, according to the interim financial results.

Earnings per share (EPS) increased to SAR 0.35 in the January-June 2024 period from SAR 0.23 in H1-23.

Income Results for Q2-24

During the second quarter (Q2) of 2024, the Saudi firm generated SAR 11.77 million in net profit, down 39.88% YoY from SAR 19.59 million.

Revenues witnessed a 6.60% decline to SAR 147.51 million in the three-month period that ended on 30 June 2024, compared to SAR 157.94 million in Q2-23.

Quarter-on-quarter (QoQ), the profits in Q2-24 plummeted by 77.18% from SAR 51.62 million in Q1-24, while the revenues climbed by 6.02% from SAR 139.13 million.