Société Libanaise Des Ciments Blancs S.A.L. published its audited financial statements this week, conveying a three-fold increase in net after-tax profit to $21.49 million in 2022, compared to $7.82 million a year earlier. In details, the company’s net sales rose by 259.34% to $100.59 million, with cost of goods sold also expanding by 392.64% to $72.44 million, leading to a large increase in gross profit to $28.15 million notwithstanding the drop in the gross profit margin to 27.98%, from 47.47% a year before. In parallel, the company encountered an increase in its selling, general, and administrative expenses by 162.91% to $9.98 million. The company’s net profit margin fell to 21.37% in 2022 from 27.94% in 2021. On the balance sheet front, Société Libanaise Des Ciments Blancs’ total assets expanded by 171.79% in 2022 to $121.33 million, up from $44.64 million at end of 2021, buoyed mainly by an increase in inventory to $75.38 million. Similarly, total liabilities rose by 334.91% to $71.94 million as a result of the sharp expansion in accounts payable & other liabilities to $66.09 million. The company’s shareholders equity widened by 75.76% in the year 2022 to $49.39 million as a result of the carried forward profits. On the profitability front, the company’s return on assets (ROA) ended the year 2022 almost flat at 17.71%, while its return on equity (ROE) rose from 27.84% in 2021 to 43.52% in 2022.