Hail Cement Co. posted a net profit after Zakat and tax of SAR 59.657 million for fiscal year 2019, compared to a net loss of SAR 25.029 million a year earlier.
The rise in net profit is attributed to higher revenue and lower expenses, the company said in a statement to Tadawul.
Total revenue for FY2019 stood at SAR 274 million, compared to SAR 196 million in the year-earlier period, an increase of 40.02%.
Earnings per share during FY 2019 amounted to SAR 0.60, compared to loss of SAR 0.24 a year earlier, the statement also said.
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