RIYADH: Al-Jouf Cement Co. has reported that it widened its losses by 53 percent in 2021 on the back of a drop in sales.
The cement producer’s losses reached SR150 million ($40 million), compared to losses of SR98 million a year earlier, according to a bourse filing.
The company attributed the performance to a decline in sales, coupled with a decrease in average selling prices, as well as an increase in zakat expenses for the year.
At the closing bell on Thursday, Al-Jouf saw its shares slip 0.18 percent, to SR11.06.
