Al Jouf Cement’s consolidated profit grows 21% YoY in Q1-24

Al Jouf Cement’s consolidated profit grows 21% YoY in Q1-24

Riyadh – Mubasher: The consolidated net profit of Al Jouf Cement Company leapt by 21.22% year-on-year (YoY) to SAR 12.45 million in the first quarter (Q1) of 2024 from SAR 10.27 million.

Revenues increased by 16.75% YoY to SAR 82.04 million in Q1-24 from SAR 70.27 million, according to the interim financial results.

The earnings per share (EPS) recorded SAR 0.11 in the three-month period that ended on 31 March 2024, up from SAR 0.09 in the corresponding period a year earlier.

Quarter-on-quarter (QoQ), the company’s net profit dropped 69.23% in Q1-24 from SAR 40.46 million in Q4-23, while the revenues decreased by 2.02% from SAR 83.74 million.

Al Jouf Cement’s consolidated net profit leapt by 174.20% YoY to SAR 84.71 million in 2023 from SAR 30.89 million.

Al Jouf Cement’s consolidated profit grows 21% YoY in Q1-24