A financial report by Al-Riyadh daily newspaper has revealed Saudi Arabia-listed cement companies recorded almost US$517.25 million (SAR 1.94 billion) in revenues in the second quarter of 2014, while realising sales worth SAR 3.66bn.
However, the same companies saw a decline of 2.7% in net profits from $485.23 million (SAR 1.82 billion) to $471.9 million (SAR 1.77 billion) on a year-on-year (Y-o-Y) basis, after operational costs and zakat provision deduction. The Al-Riyadh daily report further stated that the cement companies also registered a 6% year-on-year fall in net profits from $970.46 million (SAR 3.64 billion) to $906.47 million (SAR 3.4 billion) in the first six months of 2014.
