Money and business
The profits of “Northern Cement” decreased 85% in the first quarter of 2025
The profits of the northern region cement company “Northern Cement” decreased in the first quarter of 2025 by 84.8% to 7.831 thousand riyals, compared to 51.628 thousand riyals in the same quarter of last year.
According to the company’s statement on Saudi Arabia’s circulation, the reason for the decrease in the net profit compared to the first quarter of last year is to ensure the profit of selling the company’s share in an investment in Iraq.
The decrease in net profit during the current quarter compared to the previous quarter is due to a decrease in the amount of sales and the increase in the cost of financing.
According to the company’s statement on Saudi Arabia’s circulation, the reason for the decrease in the net profit compared to the first quarter of last year is to ensure the profit of selling the company’s share in an investment in Iraq.
The decrease in net profit during the current quarter compared to the previous quarter is due to a decrease in the amount of sales and the increase in the cost of financing.
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