Saudi: Yamama Cement posts nearly 18.5% higher profits in 9M-24

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Yamama Cement Company registered net profits amounting to SAR 297.58 million in the first nine months (9M) of 2024, an annual rise of 18.32% from SAR 251.49 million.

In January-September 2024, the revenues jumped by 12.96% to SAR 802.61 million from SAR 710.51 million a year earlier, according to the income statements.

Earnings per share (EPS) hit SAR 1.47 as of 30 September 2024, compared to SAR 1.24 in 9M-23.

Financials for Q3-24

During the third quarter (Q3) of 2024, the company posted 140.13% year-on-year (YoY) higher net profits at SAR 97.93 million, compared to SAR 40.78 million.

Yamama Cement recorded 34.70% YoY growth in sales to SAR 285.18 million during July-September 2024, compared to SAR 211.71 million.

Quarterly, the net profits in Q3-24 hiked by 15.73% from SAR 84.61 million in Q2-24, whereas the revenues climbed by 17.01% from SAR 243.72 million.