Riyadh –  Umm Al Qura Cement Company witnessed a 54.06% drop in net profit after Zakat and tax to SAR 28.44 million in the first nine months (9M) of 2022, versus SAR 61.92 million in 9M-21.

The revenues stood at SAR 179.29 million in 9M-22, lower by 15.13% than SAR 211.25 million in 9M-21, according to the interim financial results.

Furthermore, the earnings per share (EPS) plummeted to SAR 0.52 during January-September 2022, compared to SAR 1.13 in the year-ago period.

During the third quarter (Q3) of 2022, the Tadawul-listed firm achieved net profits after Zakat and tax worth SAR 6.26 million, an annual plunge of 49.76% from SAR 12.47 million.

Revenues declined by 4.81% YoY to SAR 54.21 million in Q3-22 from SAR 56.95 million.

On a quarterly basis, the Q3-22 net profits after Zakat and tax retreated by 24.81% from SAR 8.33 million in Q2-22, while the revenues decreased by 8.86% from SAR 59.48 million.

In the January-June 2022 period, Umm Al Qura Cement registered net profits after Zakat and tax worth SAR 22.17 million, down 55.15% from SAR 49.45 million during the same period in 2021.

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