Riyadh – Mubasher: Qassim Cement Company achieved net profits after Zakat and tax worth SAR 261.43 million during the first nine months of 2021, a year-on-year (YoY) decline of 14.7% from SAR 306.74 million.
Earnings per share went down to SAR 2.9 at the end of September 2021 from SAR 3.41 in the same period last year, according to the initial financial results on Monday.
Sales decreased by nearly 10.5% YoY to SAR 591.47 million in January-September 2021, compared to SAR 660.75 million.
In the third quarter (Q3) of 2021, Qassim Cement registered a 45% YoY plunge in net profits to SAR 60.38 million from SAR 110.1 million.
Sales also shrank by 26% to SAR 170.31 million in Q3-21 from SAR 231.57 million in Q3-20.
On a quarterly basis, the net profits in Q3-21 were 39.7% lower than SAR 100.17 million in Q2-21, and the sales narrowed by 13.8% from SAR 197.8 million.
