The financial statements of the Northern Region Cement Company showed an increase in 2022 profits by 5.41% to 112.45 million riyals after zakat and tax, compared to a net profit of 106.67 million riyals in 2021.
The company said in a statement on “Tadawul Saudi Arabia”, today, Thursday, that the increase in net profit during 2022, on an annual basis, is due to the increase in sales and the increase in the return from foreign forms compared to the previous year, despite the significant increase in financing burdens compared to the previous year.
Sales of “Northern Region Cement” increased by 9.97% to 617.95 million riyals in 2022, compared to about 561.91 million riyals in sales in 2021.
In a related context, the Northern Region Cement Company announced the appointment of Suleiman bin Salim Al-Harbi as Chairman of the Board of Directors, Faisal bin Hamad Al-Sugair as Vice-Chairman, and Saud bin Saad Al-Arifi, Managing Director of the Board.
