Shares of Saudi cement producer Yamama rise despite lower profit in H1

  • 7/26/2022
  • 00:00
  • 5
  • 0
  • 0
news-picture

RIYADH: Yamama Cement Co.’s shares rose 2.33 percent at the end of Tuesday’s trading session to SR28.5 ($7.6) despite reporting lower first-half profits. The cement maker has reported a 9 percent decline in profit for the first half of 2022 as a result of lower sales. The firm’s half-year net profit dropped to SR120 million ($32 million) from SR132 million in the same period last year, a bourse filing shows. Along with a decline in sales, Yamama said that the increase in zakat provisions and selling expenses for the current period contributed to the drop in profit.

مشاركة :