City Cement Co. reported a net profit after Zakat and tax of SAR 153.8 million in 9M 2021, a decline of 6% from SAR 163.2 million in the year-earlier period, driven by a decrease in the value of sales and the other income, along with a marginal increase in selling and marketing expenses
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 419.74 | 402.03 | (4.2 %) |
| Gross Income | 191.63 | 181.11 | (5.5 %) |
| Operating Income | 163.91 | 155.84 | (4.9 %) |
| Net Income | 163.22 | 153.78 | (5.8 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 1.17 | 1.10 | (5.8 %) |
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 140.60 | 111.58 | (20.6 %) |
| Gross Income | 62.43 | 47.24 | (24.3 %) |
| Operating Income | 53.54 | 38.99 | (27.2 %) |
| Net Income | 52.95 | 38.05 | (28.1 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.38 | 0.27 | (28.1 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 119.83 | 111.58 | (6.9 %) |
| Gross Income | 57.72 | 47.24 | (18.1 %) |
| Operating Income | 50.31 | 38.99 | (22.5 %) |
| Net Income | 49.71 | 38.05 | (23.5 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.36 | 0.27 | (23.5 %) |
The net profit after Zakat and tax slumped 25.5% year-on-year (YoY) to SAR 38 million in Q3 2021, due to lower sales value and volume, along with a decrease in other income.
On a sequential basis, Q3 net profit fell 23.5% from SAR 49.7 million.
Shareholders’ equity, after minority interest, decreased to SAR 1.823 billion as of Sept. 30, 2021, from SAR 2.403 billion a year earlier.
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