Najran Cement Company sees fall in profits for Q2 2022 ...United Arab Emirates

The Najran Cement Company has said that its gross profit has dropped by 34% year-on-year, while its operating profit fell by 52.3% year-on-year on lower revenue, and the resultant fall in operating leverage in the second quarter of 2022. According to a report by Al Rajhi Capital Research, the cement company’s gross margins fell to 28.5% for Q2 2022, compared to 35.5% in the previous year. The company also registered a revenue of $28.75mn, which was a y-o-y fall of 17.9% – this was attributed to a 6.6% y-o-y fall in cement volume and lower average realisation. However, the report pointed out that revenue was higher than an initial estimate of $26mn. This was due to higher-than-expected cement

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