Short Url
https://arab.news/wpqpb
RIYADH: Riyadh Cement Co.’s shares declined 1.39 percent on the news that its first-half profit fell 47 percent to SR85 million ($23 million).
Share price of the TASI-listed firm fell to SR35.40 at the end of Monday session.
The profit slump was coupled with a 35 percent decrease in revenues to SR258 million, according to a bourse filing.
The cement producer blamed the poor performance on a drop in cement sales.
In a separate announcement, the company said it plans to pay SR0.75 per share in cash dividends in the first half of 2022.