https://arab.news/man92
- Net profit dropped to SR295 million ($78.6 million), compared to SR419 million a year earlier
RIYADH: Saudi cement producer Qassim Cement Co. has seen its profit decline by 30 percent during 2021.
Net profit dropped to SR295 million ($78.6 million), compared to SR419 million a year earlier, according to a bourse filing.
This came in conjunction with a drop in revenues by 19.5 percent, and a decline in earnings per share from SR4.66 to SR3.28.
In a statement to the Saudi exchange, the company attributed the fall in profit to lower sales value and volume combined with an increase in cost of sales.
The company also announced the distribution of a cash dividend of SR0.6 per share for the fourth quarter of 2021.
Shareholders who own the shares as of Feb 13, 2022 will receive their dividends on March 2, 2022, according to the filing.