Riyadh Cement Co.’s financial results in the first quarter of this year were robust in light of the high cost of production due to the rise in fuel prices, the decrease in sales volume, in addition to the decline in housing projects for retail clients, which was directly impacted by the rise in interest rates, said CEO Shuail Al Ayed.
He told Argaam that the rise in selling prices partially offset the decline in sales, noting that the demand for cement in the Kingdom was down by 4% in the Q1 2024. 
Selling prices were relatively stable in Q1 2024, said the top executive, stressing that market stability contributes to boosting the sector’s performance, which is in the interest of the consumer.
Riyadh Cement Co.’s financial results in the first quarter of this year were robust in light of the high cost of production due to the rise in fuel prices, the decrease in sales volume, in addition to the decline in housing projects for retail clients, which was directly impacted by the rise in interest rates, said CEO Shuail Al Ayed.
He told Argaam that the rise in selling prices partially offset the decline in sales, noting that the demand for cement in the Kingdom was down by 4% in the Q1 2024.
Selling prices were relatively stable in Q1 2024, said the top executive, stressing that market stability contributes to boosting the sector’s performance, which is in the interest of the consumer.
