The net profit of the “Najran Cement” company decreased by 31.29% in 2022, to about 113.75 million riyals after zakat and tax, compared to about 165.55 million riyals in 2021.
Najran Cement said in a statement on “Saudi Tadawul”, today, Sunday, that the decline in net profits in 2022, on an annual basis, is due to the decrease in the value of sales as a result of the decrease in selling prices, the high cost of production inputs and the increase in financing expenses, despite the decrease in selling and marketing expenses. and increase other revenues.
The company’s revenues decreased by 7.89% in 2022, to 535.69 million riyals, compared to revenues of 581.55 million riyals in 2021.
During the nine-month period ending on September 30, 2022, the company achieved profits of 64.42 million riyals, compared to 129.5 million riyals in the comparative period a year ago, a decrease of 50.26% on an annual basis.