Riyadh – Mubasher: Saudi Ceramic Company’s net profits for 2020 surged by 986.7% on a yearly basis, reaching SAR 77.7 million from SAR 7.15 million in 2019.
This surge in annual profit was boosted by higher revenues from improvement in sales and profit margins, coupled with lower selling and administrative expenses, and financing costs, according to a bourse disclosure on Tuesday.
Revenue for the past year amounted to SAR 1.5 billion, an increase of 22.7% when compared to SAR 1.2 billion a year earlier.
