Yanbu Cement Company reported a revenue of SR934 million ($248.92 million) for the year ending December 31, 2021, a slight decline from SR939.99 million reported in the previous year.

 

The net profit after zakat and tax was SR159.56 million, compared to SR281.02 million in the previous year, a 41.5% decline.

 

The main reason for the decrease in net profit is due to the reduction in average price despite the fact that sales volumes were higher and the high cost of revenues as a result of less production, said the company in a bourse filing.

 

Increase in general and administrative expenses also contributed to the decline in profit, it said. - TradeArabia News Service