Riyadh – Mubasher: City Cement Company posted an annual growth of 75.75% in net profit to SAR 144.11 million in 2024, compared with SAR 82 million.
The earnings per share (EPS) rose to SAR 1.03 in 2024 from SAR 0.59 in 2023, according to the financial results.
The cement manufacturer witnessed a 46.11% surge in revenue to SAR 520.83 million during the January-December 2024 period from SAR 356.46 million in the corresponding period a year earlier.
Meanwhile, the annual growth in sales was mainly attributed to higher sales volume and an increase in average selling prices.
It is worth noting that during the first nine months (9M) of 2024, City Cement posted net profits worth SAR 103.03 million in addition to revenue of SAR 361.21 million.
