Yamama Cement Company has reported significant growth in its financial results for the first nine months of 2024, showcasing a robust performance across key metrics.
Net Profit Surge
The company’s net profit for January-September 2024 reached SAR 297.58 million, marking an 18.32% increase from SAR 251.49 million in the same period last year. This rise underscores Yamama Cement’s continued financial strength amid favorable market conditions.
Revenue Growth
Revenues for the first nine months surged by 12.96%, rising to SAR 802.61 million from SAR 710.51 million in 9M-23. This steady growth reflects the company’s ability to boost sales and maintain a strong market presence.
Improved Earnings per Share
Earnings per share (EPS) increased to SAR 1.47 as of 30 September 2024, compared to SAR 1.24 in the previous year, further signaling the company’s positive trajectory and value creation for shareholders.
Q3 2024 Financial Highlights
Profit Soars in Q3
Yamama Cement’s performance in the third quarter (Q3) of 2024 was particularly notable, with net profits soaring by 140.13% year-on-year to SAR 97.93 million, compared to SAR 40.78 million in Q3-23. This sharp increase underscores a strong rebound in the company’s profitability.
Sales Boost
Sales for Q3-24 saw an impressive 34.70% year-on-year growth, reaching SAR 285.18 million, up from SAR 211.71 million in the same quarter of 2023. The boost in sales played a critical role in driving the company’s overall financial success.
Quarter-on-Quarter Performance
On a quarterly basis, Yamama Cement’s net profits increased by 15.73% in Q3-24 compared to SAR 84.61 million in Q2-24. Revenues also climbed 17.01% quarter-on-quarter, rising from SAR 243.72 million, demonstrating consistent upward momentum throughout the year.
Conclusion
With strong revenue growth, soaring profits, and improved earnings per share, Yamama Cement continues to solidify its position as a leading player in the cement industry, setting the stage for further success in the remainder of 2024.
Source: Zawya