Arabian Cement Co. reported a net profit after zakat and tax of SAR 135 million for the first nine months of 2019, against a net loss of SAR 42.5 million a year earlier.
The rise was driven by increased sales, lower cost of goods sold, as well as general and administrative (G&A) expenses.
In addition, Arabian Cement’s Jordanian affiliates reported better financial performance amid higher average selling prices.
In Q3 2019, net profit after zakat and tax saw an over fourfold rise year-on-year (YoY) to SAR 60.6 million, attributed to a rise in sales volumes and value, along with lower G&A.
When compared to the previous quarter, the cement producer’s net profit climbed 62.5 percent.
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