Northern Region Cement Co.'s net profit (after minority interest) advanced to SAR 52.2 million in Q1 2024, compared to SAR 21.4 million in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 181.09 | 139.13 | (23.2 %) |
| Gross Income | 48.14 | 44.62 | (7.3 %) |
| Operating Income | 31.85 | 25.57 | (19.7 %) |
| Net Income | 21.40 | 51.63 | 141.2 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.12 | 0.29 | 141.2 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 175.32 | 139.13 | (20.6 %) |
| Gross Income | 61.75 | 44.62 | (27.7 %) |
| Operating Income | 38.47 | 25.57 | (33.5 %) |
| Net Income | (7.93) | 51.63 | 751.2 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | (0.04) | 0.29 | 751.2 % |
The annual profit increase was driven by gains achieved from selling a share of the company’s investments in Iraq in Q1 2024. This came despite sales shrinking year-on-year (YoY) during the same quarter due to lower sales volumes.
Compared to Q4 2023, the company turned to profit against a loss of SAR 7.93 million, thanks to the significant impact of increasing the Zakat provision in the last three months of 2023.
Shareholders’ equity, excluding minority interest, stood at SAR 2.246 billion as of March 31, 2024, from SAR 2.248 billion a year earlier.
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}}