The profits of Yanbu Cement decreased by 55.8% in the third quarter to 36 million riyals

Yanbu Cement Company net profit decreased 55.8% in the third quarter of questyear, at 36.4 million riyals, after zakat and taxes, compared to 82.48 million riyals in the same quarter of 2020.

On a quarterly basis, Yanbu Cement’s net profit decreased by 12.98%, compared to a profit of approximately 41.83 million riyals in the second quarter of 2021.

The company stated in a statement to “Saudi Tadawul”, today, Thursday, that the reason for the decrease in net profit during the third quarter of quest’year, on an annual basis, is due to the decline in sales following the decline in demand, and the high cost of production following the delay in completing the fourth line development project, which resulted in a decrease in the quantity produced of clinker, as well as an increase in general and administrative expenses.

The company’s net profit after zakat and taxes decreased by 28.76% in the first nine months of 2021, reaching 149.69 million riyals, compared to 210.12 million riyals, profits for the same period of 2020.

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