SPCC registers 15% fall in revenue for Q2 2021 ...United Arab Emirates

Southern Province Cement Co (SPCC) has registered a revenue of $76.4 million for Q2 2021, marking a year-on-year fall of 15.3%, higher than the estimated $71.7 predicted, Al Rajhi Capital, a top provider of financial services in Saudi Arabia, has said. In its latest report, Al Rajhi Capital said that revenue was impacted by a 10.9% y-o-y fall in cement volume. Cement sales volume for Q2 2021 came in at 1.4 million tons, 9.8% higher than estimated. Gross profit and operating profit fell by 27.2% y-o-y and 28.3% y-o-y respectively. The fall in profitability was at the back of lower volume and the resulting fall in operating leverage. For Q2 2021, cement volume for the industry grew by 21.3% y-

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