Saudi cement producer ACC posts 37% fall in profit in Q1 on lower sales

RIYADH: Arabian Cement Co., also known as ACC, reported a 37 percent drop in profit for the first quarter of 2022 due to lower sales.

The cement maker’s first-quarter profit dropped to SR41.9 million ($11 million) from SR67 million in the same quarter last year, according to a bourse filing

The firm attributed the decrease in profit to lower sales volumes and volume in Arabian Cement and the subsidiary in Jordan.