Saudi Ceramics achieves 6% higher net profits in Q1-24

Saudi Ceramics achieves 6% higher net profits in Q1-24

Riyadh – Mubasher: Saudi Ceramic Company (Saudi Ceramics) recorded a 5.82% annual growth in net profit to SAR 15.56 million during the first quarter (Q1) of 2024 from SAR 14.70 million. The earnings per share (EPS) edged up to SAR 0.19 at the end of March 2024 compared to SAR 0.18 in the year-ago period, according to the financial results. The revenues, meanwhile, declined by 6.26% to SAR 345.76 million during January-March 2024 from SAR 368.89 million. On a quarterly basis, the company turned profitable in Q1-24 against net losses of SAR 89.79 million in Q4-23, while the revenues decreased by 9.31% from SAR 381.28 million. In 2023, Saudi Ceramics shifted to net losses of SAR 210.35 million from net profits worth SAR 173.92 million in 2022. The company also generated revenues worth SAR 1.31 billion. 

Saudi Ceramics achieves 6% higher net profits in Q1-24