Riyadh – Mubasher: Najran Cement Company registered SAR 47.4 million worth of net profit in the third quarter (Q3) of 2020, 235.4% higher than SAR 14.13 million in the corresponding quarter in 2019.
The growth in quarterly profit is owed to higher sales volume and lower sales costs per ton, coupled with a drop in financing expenses, according to a bourse disclosure on Monday.
However, the company's selling and marketing expenses rose due to the increase in export sales.
Revenues rose by 63.5% annually in the three-month period ended 30 September to SAR 158.95 million from SAR 97.2 million in the year-ago period.
In the January-September period, the profits amounted to SAR 120.486 million, a yearly surge of 584.6%.
