Saudi Northern Region Cement shares up despite 1.34% decline in yearly profit

RIYADH: Saudi Arabia’s Northern Region Cement shares were up 1.62 percent today despite lower profits.

The closing bell saw shares reach SR13.8 (£3.68), compounding gains from SR13.5 the day prior.

Northern Region Cement has reported a 1.43 percent decline in profit for 2021, driven by lower sales volume.

The cement producer’s net profit reached SR106 million, compared to SR108 million a year earlier, according to a bourse filing.

As a result, Northern Region Cement plans to distribute cash dividends of SR0.25 per share for the second half of 2021.