Riyadh –  The net profit after Zakat and tax of Yanbu Cement Company amounted to SAR 51.01 million in the first quarter (Q1) of 2023, higher by 31.03% than SAR 38.93 million in Q1-22.

The Tadawul-listed firm generated SAR 224.01 million in revenue during Q1-23, down 7.29% year-on-year (YoY) from SAR 241.63 million, according to the interim consolidated income statements.

Earnings per share (EPS) went up to SAR 0.32 as of 31 March 2023 from SAR 0.25 in Q1-22.

On a quarterly basis, the Q1-23 net profits declined by 13.78% from SAR 59.16 million in Q4-22, while the revenues fell by 6.38% from SAR 239.27 million.

Last year, Yanbu Cement recorded net profits after Zakat and tax valued at SAR 215.41 million, a 35% hike from SAR 159.56 million in 2021.

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