Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Aramco, unit and Sinopec ink $4bn deal

The two companies will establish a joint venture company.

Etihad unveils new A321LR aircraft

A321LR features First Suite - a private, enclosed space with a sliding door.

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

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.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

Energy deals top list as Bahrain issues $1.6bn tenders in Q1 2021

Majority of tenders issued are part of Bahrain’s $32 billion infrastructure development plans Oil and gas $767m, aviation $382m, construction and engineering $194m, materials and equipment $119m     Bahrain…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

[adinserter block="4"]