Najran Cement Co. posted a net profit after Zakat and tax of SAR 93.5 million for the first half of 2021, rising 28% from SAR 73.1 million in the same period a year earlier.
The company attributed the profit rise to higher sales and a decline in financing expenses.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 277.83 | 316.01 | 13.7 % |
| Gross Income | 106.76 | 122.05 | 14.3 % |
| Operating Income | 86.45 | 98.91 | 14.4 % |
| Net Income | 73.08 | 93.45 | 27.9 % |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.43 | 0.55 | 27.9 % |
The cement producer reported a net profit after Zakat and tax of SAR 32.7 million for Q2 2021, declining marginally from SAR 32.9 million in the year-ago period, backed by higher cost of sales per ton.
When compared to the previous quarter, net profit after Zakat and tax fell 46.1% on cyclical trend of lower cement demand due to Ramadan and Eid Al Fitr.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 121.45 | 131.58 | 8.3 % |
| Gross Income | 50.33 | 46.66 | (7.3 %) |
| Operating Income | 40.40 | 35.05 | (13.2 %) |
| Net Income | 32.96 | 32.71 | (0.8 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.19 | 0.19 | (0.8 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 184.43 | 131.58 | (28.7 %) |
| Gross Income | 75.39 | 46.66 | (38.1 %) |
| Operating Income | 63.46 | 35.05 | (44.8 %) |
| Net Income | 60.34 | 32.71 | (45.8 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.35 | 0.19 | (45.8 %) |
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