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

Follow-ups -eshrag News:

Wed, 2022-03-09 17:18

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.

Main category: 
Business & Economy
Southern Province Cement

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