Compared to 521 million for the same period last year.

The company stated in a press release today on the “Tadawul” website that it recorded a net profit of 241 million riyals for the second quarter, a 12% decline compared to the same quarter of the previous year, and an increase of 17.56% from the previous quarter, bringing earnings per share for the first half to 2.83 riyals, compared to 3.31 riyals for the same period last year.

The company attributed the declines during the current period compared to the same period last year, as well as during the current quarter, to lower sales volume and higher cost of sales due to rising prices of imported clinker.