Riyadh Cement sees 4% profit drop in 2021 despite higher sales

The Saudi-listed company saw its annual revenue rise 13 percent year-on-year
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Updated 29 March 2022
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Riyadh Cement sees 4% profit drop in 2021 despite higher sales

RIYADH: Saudi Arabia’s Riyadh Cement Co. reported a 4 percent decline in profit in 2021, despite revenue growth.

The cement producer’s net profit went down to SR211 million ($56 million) from SR219 million a year earlier, according to a bourse filing.

Even though profits fell, the Saudi-listed company saw its annual revenue rise 13 percent from SR590 million to SR671 million year-on-year.

The firm attributed the result to the increase of general and administrative expenses as well as increased Zakat expenses.


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.