Najran Cement records 24% surge in net profits during 2024
Riyadh – Najran Cement Company achieved SAR 68.42 million in net profit as of 31 December 2024, higher by 24.05% year-on-year (YoY) than SAR 55.16 million.
Revenues hiked by 10.06% to SAR 534.50 million last year from SAR 485.65 million in 2023, according to the financial statements.
Meanwhile, the earnings per share (EPS) climbed to SAR 0.40 in 2024 from SAR 0.32 a year earlier.
The higher net profits were attributed to a growth in sales and an improvement in gross margin, despite the increase in the expenses and finance cost.
In the nine-month period that ended on 30 September 2024, Najran Cement posted 6.72% lower net profits at SAR 46.97 million, compared to SAR 50.36 million a year earlier.
Source: Mubasher
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