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Yanbu Cement reports dip in profit

The company had posted a net profit of #110m in 2022.
By TRENDS Desk
March 6, 2022 9:59 pm
  • The Jeddah-based company, apart from seeing a drop in the net profit, saw its annual revenue fall slightly from SR940 million to SR934 million year-on-year
  • The company attributed the dip in earnings to lower selling prices that weighed on the company's revenue.

Yanbu Cement Co., one of Saudi Arabia’s largest cement producers, has posted a forty three percent dip in net profit to $43 million in 2021.

The company attributed the dip in earnings to lower selling prices that weighed on the company’s revenue.

The Jeddah-based company, apart from seeing a drop in the net profit, saw its annual revenue fall slightly from SR940 million to SR934 million year-on-year, according to a bourse filing.

This came as lower prices dragged down sales in addition to an increase in general and administrative expenses, the cement producer said.

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