Thndr Claps » Saudi Claps » Earnings 📈 » Eastern Cement profits decline in Q2 📉
The ClapEastern Cement’s (3080) profits dropped to SAR 43 million in Q2 2022.The DeetsIn Q2 2022, Eastern Cement’s profits dropped by 30.6% from SAR 62 million during Q2 2021. Profit for the H1 of 2022 was recorded at SAR 72 million, down 41% from the year before. Eastern Cement justified the drop in profits due to the decline in volume and price of cement as well as an increase in operating expenses in recent times.Why this MattersEastern Cement decided to issue SAR 86 million in dividends to shareholders for H1 2022. They will begin issuing the dividends starting August 30.
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