City Cement Co. reported a net profit of SAR 41.6 million in Q1 2024, an increase of 51% from SAR 27.6 million in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 108.25 | 119.83 | 10.7 % |
| Gross Income | 32.98 | 48.57 | 47.3 % |
| Operating Income | 24.20 | 38.16 | 57.6 % |
| Net Income | 27.59 | 41.59 | 50.8 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.20 | 0.30 | 50.8 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 99.75 | 119.83 | 20.1 % |
| Gross Income | 33.62 | 48.57 | 44.5 % |
| Operating Income | 23.90 | 38.16 | 59.6 % |
| Net Income | 25.70 | 41.59 | 61.8 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.18 | 0.30 | 61.8 % |
This was attributed to higher sales volumes and value for the current quarter, in addition to the lower cost of sales.
On a quarterly basis, net earnings jumped by 61.8% from SAR 25.7 million in Q4 2023.
Shareholders’ equity, no minority interest, reached SAR 1.76 billion by March 31, 2024, compared to SAR 1.77 billion in the prior-year period.
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