Southern Cement net profit rises 32% to SAR 609 mln in 2020

04/03/2021 Argaam Exclusive

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Share Price

Southern Province Cement Co.
39.30
0.10 0.26 %

Southern Province Cement Co. (SPCC)

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Southern Province Cement Co. reported a net profit after Zakat and tax of SAR 609 million in 2020, up 32% from SAR 463 million in 2019.

 

The increase in net profit was attributed to higher sales revenue and sales volume, and lower financing costs. In addition, the company noted an increase in other miscellaneous revenues.



Financials (M)

Item 2019 2020 Change‬
Revenues 1,300.29 1,653.11 27.1 %
Gross Income 555.82 714.85 28.6 %
Operating Income 501.55 664.42 32.5 %
Net Income 462.71 609.38 31.7 %
Average Shares 140.00 140.00 -
EPS (Riyals) 3.31 4.35 31.7 %

The Q4 2020 net profit after Zakat and tax declined 13% year-on-year (YoY) to SAR 140.9 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 396.67 430.79 8.6 %
Gross Income 191.26 199.43 4.3 %
Operating Income 175.84 186.29 5.9 %
Net Income 161.78 141.25 (12.7 %)
Average Shares 140.00 140.00 -
EPS (Riyals) 1.16 1.01 (12.7 %)

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