Southern Province Cement Co. reported a net profit after Zakat and tax of SAR 183 million for the first quarter of 2020, a 53% year-on-year (YoY) increase, compared to SAR 120 million for the same period last year.
The company attributed the increase to higher revenue of sales by 33.63%, higher domestic sales volume by 27.47%, and rise in export sales by 48.6%.
Lower financial charges and higher miscellaneous income also contributed to the increase.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 341.95 | 457.21 | 33.7 % |
| Gross Income | 137.34 | 192.67 | 40.3 % |
| Operating Income | 125.63 | 181.19 | 44.2 % |
| Net Income | 119.87 | 183.48 | 53.1 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.86 | 1.31 | 53.1 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 396.67 | 457.21 | 15.3 % |
| Gross Income | 191.26 | 192.67 | 0.7 % |
| Operating Income | 175.84 | 181.19 | 3.0 % |
| Net Income | 161.78 | 183.48 | 13.4 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 1.16 | 1.31 | 13.4 % |
When compared to the previous quarter, net profit increased by 13% on higher sales revenue, lower financial charges and rise in various other revenues.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}