Al-Jawf Cement Company announced the extension of the cement supply contract to Suleiman bin Saleh Al-Muhaileb and his sons, worth 40 million riyals.
Al-Jawf stated in a statement to “Saudi Tadawul” that the term of the contract starts from the date of signature, Muharram 28, 1443, until Ramadan 29, 1443 AH.
The company explained that the financial impact of the sales will be during the extension of the agreement, noting that there are no related parties in this contract.
Al-Jouf Cement’s net profit increased 12.02% in the second quarter of 2021, to about 8.12 million riyals, after zakat and taxes, compared to about 7.25 million riyals, second quarter earnings of 2020.
The profits of Al-Jouf Cement Company decreased by 58.18% in the second quarter of 2021, compared to a net profit of approximately 19.4 million riyals in the first quarter of 2021.
Al-Jouf Cement said in a previous statement that the reason for the increase in net profit during the second quarter of questhe year compared to the same quarter of the previous year was due to the low cost of sales, despite the decline in sales, the increase in financing costs and Zakat spending.
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