Al Jouf Cement's business with Soliman bin Saleh Almohileb at 26.3% of 2023 revenue

One of Al Jouf Cement's factories

Al Jouf Cement Co.'s business transactions with related party, Soliman bin Saleh Almohileb & His Sons Holding Co. reached 26.3% of the former's SAR 301.5 million revenues for 2023, according to the latest audited annual financial statements.

These transactions are commercial and are carried out without preferential terms, the cement producer said in a filing to Tadawul today, April 4.

Al Jouf Cement expects sales to continue growing in 2024, which will be reflected in its financials as of Q1 2024.

This underpins the company's keenness to boost transparency and disclosure levels.

Al Jouf Cement's 2023 top and bottom lines increased to SAR 84.7 million and SAR 301.5 million, respectively, according to data available with Argaam.