Saudi White Cement Co. reported a net profit after Zakat and tax of SAR 121.3 million in the first half of 2020, compared to SAR 72.1 million in the same period last year.
The company attributed the increase to higher revenue, lower financing costs and decline in general and administrative expenses despite an increase in Zakat provision.
Total shareholders' equity after deducting minority equity fell 1.83% year-on-year (YoY) to SAR 1.71 billion in H1 2020.
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