Riyadh – Mubasher: The net profits of Qassim Cement Company (QCC) grew by 16.4% on a year-on-year (YoY) basis in 2020 to stand at SAR 419.8 million.
The positive annual results were driven by an increase in the sales quantity and value and a decrease in selling and marketing expenses, coupled with higher other revenues, according to a stock exchange filing on Thursday.
Revenue for the last year reached SAR 898.4 million, up by 13.5% from SAR 791.8 million a year earlier.
In a separate statement, the company’s board proposed a cash dividend distribution of SAR 108 million or SAR 1.2 per share to shareholders for the fourth quarter (Q4) of 2020.
The distributions represent 12% of the share’s par value.
