Saudi Southern Province Cement’s profits drop 26% in 2021 due to lower sales revenue

RIYADH: Southern Province Cement Co. reported a decline in profit of 26 percent in 2021, according to a bourse filing.

The Saudi-listed company registered a net profit of SR464 million ($123 million), down from SR628 million in the same period a year earlier.

The decline was mainly due to a decrease in sales revenue caused by a decrease in sales volume and an increase in general and administrative expenses

Total sales revenue stood at SR1.3 billion for 2021, compared to SR1.6 billion for the previous year.