Cement producer Al-Jouf reports a 74% drop in profit as sales dip

RIYADH: Saudi-listed Al-Jouf Cement Co. has recorded a profit decline of 74 percent in the first quarter of 2022, resulting from a drop in sales.
The cement producer, which is based in the northwest of the Kingdom, saw its profit reach SR5.6 million ($1.5 million) in the first quarter of 2022, down from SR21 million in the prior-year period, according to a bourse filing.

This was accompanied by a decrease in revenues, which plummeted by 28 percent to SR49 million from SR68 million in the same period last year.