Riyadh – Mubasher: The net profits of Northern Region Cement Company increased by 16.68% to SAR 108.225 million in 2020 from SAR 92.753 million in 2019.

Higher profits are attributed to lower financing expenses, as a result of decreasing total loans by around SAR 114 million, and higher return from foreign investments, according to a bourse filing on Tuesday.

The company's revenues decreased by 3.25% to SAR 651.481 million last year, compared to SAR 673.371 million in 2019.

The earnings per share (EPS) settled at SAR 0.6 in 2020, against SAR 0.52 in 2019.

It is noteworthy to mention that during the third quarter (Q3) of 2020, the company's net profits fell by 18.3% year-on-year (YoY) to SAR 21.43 million.