City Cement Profit Doubles in Q3 Despite Revenue Drop

Riyadh, Saudi Arabia — City Cement Co.'s net profit nearly doubled to 17.4 million SAR in Q3 2026, a 99.2% jump from 8.7 million SAR in the same period last year despite a 12.2% decline in revenue. The surge was driven by cost cuts and higher selling prices, not improved demand. The company trimmed goods, administrative, selling, and marketing expenses while raising average selling prices, resulting in a 527.7% jump in operating profit to 13.5 million SAR.

Nine-month results, however, showed a 35.7% decline in net profit to 62.2 million SAR and a 19.5% drop in total revenue to 305.9 million SAR. Investors should note that while Q3 profitability is strong, the nine-month trend is worrisome. The company's ability to maintain pricing power and control costs is a positive sign, but demand weakness remains a concern. Saudi Arabia's cement sector is crucial to the Kingdom's construction boom under Vision 2030.