Hail Cement’s (3001) net profit decreased by 61.3% YoY at the end of 2022.
The company attributed the decrease in its annual profits to the decrease in the average selling price during the past year, in addition to other factors.
Some of these other factors include the high public and administrative expenses, as a result of a fine the company incurred worth around SAR 10 million.
The company’s sales jumped during 2022 in terms of both volume and revenue, compared to 2021.
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