Profits for the fourth quarter amounted to 24.7 million riyals
Saudi Al-Jouf Cement Company turned to profits in the fourth quarter of 2022, amounting to 24.7 million riyals, compared to losses of 178.6 million riyals in the corresponding period of 2021.
Al-Jouf Cement attributed its transformation to profitability as a result of the increase in the value and quantity of sales, in addition to the improvement in prices and lower costs. The company recorded additional provisions in the corresponding quarter of 2021.
During 2022, the company achieved profits amounting to 32.4 million riyals, compared to losses of 148.8 million riyals, in 2021.
Al-Jouf Cement stated that the increase in net income was due to the increase in the value and quantity of sales, in addition to the improvement in prices and lower costs. The company recorded additional provisions in the same period of the year 2021.