Southern Province Cement Co. reported a net profit after Zakat and tax of SAR 468 million for the first nine months of 2020, a 56% year-on-year (YoY) increase, compared to a profit of SAR 301 million in the same period a year earlier, the company said in a bourse statement.
The increase in net profit was attributed to higher sales revenue and sales volume, lower general and administrative expenses and higher miscellaneous revenue.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 903.61 | 1,222.32 | 35.3 % |
| Gross Income | 364.56 | 515.42 | 41.4 % |
| Operating Income | 325.71 | 478.14 | 46.8 % |
| Net Income | 300.94 | 468.13 | 55.6 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 2.15 | 3.34 | 55.6 % |
The company reported a net profit of SAR 150 million for the third quarter of 2020, a 67% YoY increase on higher sales, lower financial charges and higher miscellaneous revenue.
When compared to previous quarter, net profit grew 11.2% during Q3.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 286.01 | 425.77 | 48.9 % |
| Gross Income | 114.15 | 170.36 | 49.2 % |
| Operating Income | 102.51 | 159.57 | 55.7 % |
| Net Income | 90.29 | 149.77 | 65.9 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.64 | 1.07 | 65.9 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 339.34 | 425.77 | 25.5 % |
| Gross Income | 152.40 | 170.36 | 11.8 % |
| Operating Income | 137.38 | 159.57 | 16.1 % |
| Net Income | 134.88 | 149.77 | 11.0 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.96 | 1.07 | 11.0 % |
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