Northern Cement net profit rises 17% to SAR 108.2 mln in 2020

09/03/2021 Argaam Exclusive

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Share Price

Northern Region Cement Co.
9.62
(0.05) (0.52 %)

Northern Region Cement Co. (NORTHERN CEMENT)

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Northern Region Cement Co. reported net profit after Zakat and tax of SAR 108.2 million, a 17% increase year-on-year (YoY) for 2020.

 

The profit jump was driven by lower financing expenses, a SAR 114 million drop in total loans in addition to higher return from foreign investments.

 

Q4 2020 net earnings rose 22% YoY to SAR 45.5 million.



Financials (M)

Item 2019 2020 Change‬
Revenues 673.37 651.48 (3.3 %)
Gross Income 216.32 196.13 (9.3 %)
Operating Income 125.86 126.83 0.8 %
Net Income 92.27 107.50 16.5 %
Average Shares 180.00 180.00 -
EPS (Riyals) 0.51 0.60 16.5 %


Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 210.12 166.38 (20.8 %)
Gross Income 55.00 53.63 (2.5 %)
Operating Income 33.69 41.64 23.6 %
Net Income 36.80 44.62 21.3 %
Average Shares 180.00 180.00 -
EPS (Riyals) 0.20 0.25 21.3 %

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