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RIYADH: Saudi Arabia’s Najran Cement Co. posted a 61 percent decrease in profit for the first quarter of 2022, primarily due to lower sales.
The cement producer saw its profits fall to SR23 million ($6 million), down from SR60 million in the same period a year earlier, according to a bourse filing.
The decline in profit was caused by a decline in sales and an increase in production costs.
For the same period, sales and revenue totaled SR139 million, down 24 percent from the first quarter of last year.
Saudi City Cement’s profit down 74% on lower sales
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