Two cement companies have posted their interim financial results at the Saudi Stock Exchange (Tadawul) for the period ending on 30 June 2022, showing l.
RIYADH: City Cement Co. and Arabian Cement Co. reported lower profits during the first half of 2022, continuing the trend of declining cement sector profits. City Cement Co. has reported SR42 million ($11 million) in profit for the first half, down 64 percent from the same period in 2021. Its revenues fell by 32 percent to reach SR197 million during the period. Arabian Cement
RIYADH: Saudi stocks opened the week in positive territory on the back of rising oil prices and solid company earnings. This is despite a 0.75 percent interest rate hike by the Gulf Cooperation Council's central banks last week. The main index, TASI, started 0.62 percent higher at 12,155, while the parallel market, Nomu, started flat at 20,958, as of 10:08 a.m. Saudi time The
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,