Saudi Arabia: Qassim Cement's sales fell by 30% year-on-year to US$78.4m in the first half of 2022 from US$112m in the first half of 2021. High costs compounded the decline to result in a net profit drop of 73% to US$14.4m from US$53.5m. The fall in profit was less sharp in the second quarter of 2022 than in the first: it fell by 75% year-on-year to US$6.68m in the first quarter of the year and by 71% year-on-year to US$7.71m in the second quarter of the year.
Qassim Cement's sales drop as profit more than halves in first half of 2022
URL: https://globalcement.com/news/item/14542-qassim-cement-s-sales-drop-as-profit-more-than-halves-in-first-half-of-2022
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