3.2 billion riyals, cement companies’ profits in 2020

Cement companies listed on the Saudi Stock Exchange (Tadawul) achieved 3.2 billion riyals in profits last year in light of rising revenues. Corporate data revealed that Saudi cement companies ’profits increased by 21.75% in 2020, with an increase of 583.77 million riyals compared to the profits of the previous year. Profits rose to 3.27 billion riyals after zakat and tax during the past year, compared to 2.68 billion riyals in 2019, and 12 companies recorded net growth. Profits in 2020 on an annual basis, in exchange for a decline in the profits of one company, and another shifting of losses. Southern Cement Company took the lead by acquiring 18.6% of the net profits. With a value of 609 million riyals, recording an increase of 31.5% over the previous year’s profits of 463 million riyals. Saudi Cement Company ranked second with net profits amounting to 456 million riyals, rising marginally by 1% over the profits of the previous year, followed by Qassim Cement with net profits amounting to 419 million riyals, and Najran Cement Company achieved the highest rate of growth in profits during 2020 by 281.76%, ranking eighth By 204.3 million riyals, while the profits of the Arab Cement Company decreased by 11.4% in 2020 to 184.9 million riyals, to be in the ninth place with the highest profitable companies, and Tabuk Cement was the lowest in profits last year, with a net 51.58 million riyals after zakat and tax. Al-Jouf Cement Company transferred losses in 2020 with a net profit of 73.3 million riyals, compared to 5.26 million riyals in profits in 2019.

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