Saudi: Yamama Cement logs nearly $53.3mln profits in H1-24

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Yamama Cement Company recorded 5.24% lower net profits at SAR 199.65 million in the first half (H1) of 2024, compared to SAR 210.70 million in H1-23.

Revenues amounted to SAR 517.43 million in H1-24, marking a 3.73% year-on-year (YoY) growth from SAR 498.80 million, according to the financial results.

The earnings per share (EPS) dropped to SAR 0.99 as of 30 June 2024 from SAR 1.04 a year earlier.

Financial Results for Q2-24

In the second quarter (Q2) of 2024, Yamama Cement registered net profits worth SAR 84.61 million, marking a plunge of 13.92% from SAR 98.30 million in Q2-23.

Meanwhile, the revenues hiked by 11.31% YoY to SAR 243.72 million in Q2-24 from SAR 218.94 million.

Quarter-on-quarter (QoQ), the profits in Q2-24 retreated by 26.44% from SAR 115.03 million in Q1-24, while the revenues plunged by 10.95% from SAR 273.70 million.