Riyadh: Yamama Cement Company posted an annual leap of 279.52% in net profit after Zakat and tax to SAR 112.39 million during the first quarter (Q1) of 2023, versus SAR 29.61 million.

The Saudi firm generated revenues worth SAR 283.15 million in Q1-23, higher by 27.79% than SAR 221.57 million in Q1-22, according to the interim income statements.

During the first three months (3M) of 2023, the earnings per share (EPS) amounted to SAR 0.56, compared to SAR 0.15 in the year-ago period.

On a quarterly basis, the Q1-23 net profits after Zakat and tax fell by 16.21% from SAR 134.15 million in Q4-22, while the revenues declined by 16.33% from SAR 338.42 million.

Last April, Yamama Cement distributed cash dividends worth SAR 202.50 million for 2022.

In January-December, the firm achieved net profits after Zakat and tax valued at SAR 355.79 million, up 131.54% year-on-year (YoY) from SAR 153.66 million.

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