Qassim Cement’s quarterly profit fell 75% to 25 million riyals

Qassim Cement Company’s quarterly profits decreased 75% to 25 million riyals in the first quarter of 2022, compared to 100.8 million riyals in the first quarter of 2021.
SAS’s quarterly profit decreased by 25.8%, from 33.8 million riyals in the previous quarter.
The value of the company’s operating profits was 18.8 million riyals, compared to 103.9 million riyals, a decrease of 75.6%.

Qassim Cement said the reason for the decrease in net profit during the quarter in compared to the previous quarter is the increase in general and administrative expenses and the decrease in other revenues, despite the improvement in the value of sales.

The company attributed the decrease in its profits in the period in over the same period of the previous year to the decrease in the value and quantity of sales.

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