Yamama Cement posts 14.5% YoY lower profit in 2023

Yamama Cement posts 14.5% YoY lower profit in 2023



Riyadh – Mubasher: Yamama Cement Company reported a 14.49% year-on-year (YoY) decrease in net profit to SAR 304.25 million in 2023 from SAR 355.79 million.

The earnings per share (EPS) amounted to SAR 1.50 in 2023, a decline from SAR 1.76 in the previous year, according to the annual financial statements.

Revenues hit SAR 935.19 million in the 12-month period that ended on 31 December 2023, down 7.23% YoY from SAR 1 billion.

Cash Dividends Proposal 

Yamama Cement’s board of directors recommended to the general assembly meeting the distribution of SAR 202.50 million in cash dividends for 2023 at SAR 1 per share, which accounts for 10% of the share’s par value.

Eligibility will be for shareholders who are registered in the Saudi Exchange (Tadawul) at the end of the second trading day following the general assembly meeting, which date will be announced at a later time.

During the first nine months (9M) of 2023, Yamama Cement witnessed a 13.46% YoY growth in net profit after Zakat and tax to SAR 251.49 million from SAR 221.64 million.

Yamama Cement posts 14.5% YoY lower profit in 2023