Saudi: Qassim Cement’s H1-24 net profits exceed $39.1mln

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Qassim Cement Company logged net profits amounting to SAR 147.11 million in the first half (H1) of 2024, an annual leap of 58.12% from SAR 93.03 million.

The revenues stood at SAR 399.71 million in H1-24, higher by 28.41% year-on-year (YoY) than SAR 311.25 million, according to the interim financial results.

Earnings per share (EPS) increased to SAR 1.60 as of 30 June 2024 from SAR 1.03 in H1-23.

Income Results for Q2-24

In the second quarter (Q2) of 2024, Qassim Cement recorded a 91.33% YoY jump in net profit to SAR 72.89 million, compared to SAR 38.09 million.

Revenues hiked by 48.19% to SAR 203.30 million in Q2-24 from SAR 137.18 million in Q2-23.

Quarter-on-quarter (QoQ), the profits in April-June 2024 fell by 1.79% from SAR 74.22 million in Q1-24, while the revenues climbed by 3.50% from SAR 196.41 million.