Riyadh – Mubasher: Arabian Cement Company recorded a 22.87% year-on-year (YoY) decline in net profit to SAR 139.60 million in 2023 from SAR 181 million a year earlier
Revenues decreased by 9.79% YoY to SAR 875.80 million last year from SAR 970.90 million in 2022, according to the annual financial results.
The earnings per share (EPS) reached SAR 1.40 in the 12 months that ended on 31 December 2023, down from SAR 1.81 the year before.
Cash Dividends
The company’s board of directors proposed the disbursement of SAR 75 million in cash dividends for the second half (H2) of 2023.
In January, Arabian Cement appointed a new Chairman for four years.
The Tadawul-listed company logged 26.73% lower net profits to SAR 106.90 million In the first nine months (9M) of 2023, compared to SAR 145.90 million in 9M-22.
