Northern Region Cement Company’s quarterly profits decreased 26.7% to 23.3 million riyals in the first quarter of 2022, compared to 31.8 million riyals in the first quarter of 2021.
On a quarterly basis, profits fell 34% from 35.4 million riyals in the previous quarter.
The value of the company’s operating profits was 29.7 million riyals, compared to 36.4 million riyals, a decline of 18%.
The Northern Region Cement Company said the reason for the decrease in net profit during the quarter in compared to the previous quarter is due to the decrease in the quantity and value of sales.
The company attributed the decrease in its profits in the current period compared to the previous quarter to the decrease in the net profit of its subsidiaries in Jordan and Iraq.
Read More About: Business News