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real estateApril 1, 2022

Cement producer Al-Jouf suffers 53% losses in 2021, as sales decline

RIYADH: Al-Jouf Cement Co. has reported that it widened its losses by 53 percent in 2021 on the back of a drop in sales.

The cement producer’s losses reached SR150 million ($40 million), compared to losses of SR98 million a year earlier, according to a bourse filing.

The company attributed the performance to a decline in sales, coupled with a decrease in average selling prices, as well as an increase in zakat expenses for the year.

At the closing bell on Thursday, Al-Jouf saw its shares slip 0.18 percent, to SR11.06.