Arabian Cement Co. reported a net profit of SAR 54.2 million in Q1 2024, a 10% rise from SAR 49.2 million in the prior-year period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 240.09 | 227.57 | (5.2 %) |
| Gross Income | 66.73 | 69.16 | 3.6 % |
| Operating Income | 51.70 | 53.05 | 2.6 % |
| Net Income | 49.18 | 54.19 | 10.2 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.49 | 0.54 | 10.2 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 225.17 | 227.57 | 1.1 % |
| Gross Income | 40.66 | 69.16 | 70.1 % |
| Operating Income | 23.42 | 53.05 | 126.6 % |
| Net Income | 32.78 | 54.19 | 65.3 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.33 | 0.54 | 65.3 % |
The profit rise was spurred by a higher average selling price for the local market despite the decrease in sales volume for the group (due to Ramadan month overlap with the current quarter). This is in addition to the company's higher share of associates and lower finance costs.
Compared to Q4 2023, the first-quarter net profit leapt 65.3% from SAR 32.78 million, thanks to an increase in average selling price for the local market despite the decrease in sales volume (due to Ramadan month overlap with the current quarter).
Shareholders’ equity, after minority interest, stood at SAR 2.62 billion as of March 31, 2024, down from SAR 2.68 billion in a year-earlier period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}