Southern Province Cement posts 42% profit decline on lower demand

RIYADH: Southern Province Cement Co. has reported a 42 percent profit drop for the first half of 2022, according to a bourse filing.

The cement producer’s profit reached  SR150 million ($40 million) in profit, compared to SR257 million in the prior-year period.

The firm attributed its performance to a 22 decline in revenue caused by lower demand.