Tabuk Cement Co. reported a net profit after Zakat and tax of SAR 7.1 million in Q1 2021, down 76% from SAR 28.9 million in the same period last year.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 75.42 | 76.96 | 2.0 % |
| Gross Income | 17.53 | 20.95 | 19.6 % |
| Operating Income | 11.55 | 14.08 | 21.8 % |
| Net Income | 28.91 | 10.06 | (65.2 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.32 | 0.11 | (65.2 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 79.56 | 76.96 | (3.3 %) |
| Gross Income | 21.33 | 20.95 | (1.8 %) |
| Operating Income | 14.90 | 14.08 | (5.5 %) |
| Net Income | 12.66 | 10.06 | (20.5 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.14 | 0.11 | (20.5 %) |
The decline was attributed to cash flow adjustment gains of a financial liability (loan) and amortization of the cash flow adjustment gains of the loan.
In addition, the company also noted an increase in selling, marketing, general and administrative expenses.
When compared to the previous quarter, the firm’s net profit after Zakat and tax fell 44.3% in Q1 2021.
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