Arabian Cement Co. reported a net profit after Zakat and tax of SAR 208.7 million for the fiscal year 2019 from a net loss of SAR 26.2 million in the year before, it said in a bourse filing.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 600.73 | 781.97 | 30.2 % |
| Gross Income | 37.84 | 315.71 | 734.4 % |
| Operating Income | (30.02) | 256.76 | 955.2 % |
| Net Income | (26.27) | 208.72 | 894.6 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | (0.26) | 2.09 | 894.6 % |
The profit increase is attributed to higher sales driven by a growth in prices in Saudi Arabia and Jordan, and a decrease in general and administrative expenses (G&As).
The company also cited an improvement in earnings from its subsidiary in Jordan, an increase in Zakat and tax provisions, and a decrease in other income.
In Q4 2019, the company posted a more than three-fold increase in net profit to reach SAR 73.61 million.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 175.30 | 234.72 | 33.9 % |
| Gross Income | 17.99 | 96.13 | 434.3 % |
| Operating Income | 2.33 | 78.01 | 3243.6 % |
| Net Income | 16.31 | 73.63 | 351.5 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.16 | 0.74 | 351.5 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 193.47 | 234.72 | 21.3 % |
| Gross Income | 93.50 | 96.13 | 2.8 % |
| Operating Income | 80.43 | 78.01 | (3.0 %) |
| Net Income | 60.60 | 73.63 | 21.5 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.61 | 0.74 | 21.5 % |
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