Riyadh – Mubasher: Southern Province Cement Company reported a 1,572% year-on-year increase in its interim financial results for the third quarter of 2019.
Net profits recorded SAR 90.3 million in Q3-19, compared to SAR 5.4 million in Q3-18, according to a recent bourse statement.
Revenues jumped by 45.9% year-on-year to SAR 286 million during the three-month period ended September.
For the first nine months of 2019, Southern Province achieved SAR 301 million in profits, 110.48% higher than SAR 143 million a year earlier.
The company generated SAR 904 million in profits in nine months, up 39.5% from SAR 648 million in the same period last year.
Profit per share stood at SAR 2.15 by the end of September, versus SAR 1.02 in September 2018.
