Cement producer Al Jouf posts 93% slump in profit amid weak sales and prices

RIYADH: Saudi-based cement producer Al Jouf Cement Co. suffered a 93 percent decline in profits during the first half of 2022, due to a downward trend in cement prices and sales.

Al Jouf Cement Co., which is based in the northwest of the Kingdom, saw its profits reach SR1.8 million ($479,208), down from SR26 million in the prior-year period, its bourse filing shows.

This was accompanied by a 19 percent plunge in revenues, from SR122 million in the previous period to SR98 million.