RIYADH: Saudi Arabia’s City Cement Co. posted a 74 percent decrease in profit for the first quarter of 2022, owing to lower sales. The cement producer saw its profits fall to SR17 million ($5 million), down from SR66 million in the same period a year earlier, according to a bourse filing. The decline in profit was due to lower sales value, quantity, and average selling price, despite decreased general and administrative expenses. For the period, sales and revenue totaled SR108 million, down 36 percent from the last year.