Umm Al Qura Cement records lower profits in H1-22 initial results

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Riyadh – Umm Al Qura Cement Company generated SAR 22.17 million in net profit after Zakat and tax during the first half (H1) of 2022, a 55.15% year-on-year (YoY) plunge from SAR 49.45 million.

The revenues fell by 18.93% to SAR 125.08 million in the first six months (6M) of 2022, compared to SAR 154.30 million during the same period a year earlier, according to the interim financial results.

Furthermore, the earnings per share (EPS) stood at SAR 0.40 in H1-22, lower than SAR 0.90 in H1-21.

During the second quarter (Q2) of 2022, the net profits after Zakat and tax plummeted by 54.74% to SAR 8.33 million from SAR 18.41 million in Q2-21.

Meanwhile, the Q2-22 revenues declined by 6.90% YoY to SAR 59.48 million from SAR 63.89 million.

In January-March 2022, Umm Al Qura Cement achieved net profits after Zakat and tax of SAR 13.84 million, lower by 55.39% than SAR 31.03 million in the year-ago period.