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×Eastern Cement's net profit more than doubles in 9M 2019
Eastern Province Cement Co. (EPCCO) reported a net profit after zakat and tax of SAR 114 million for the first nine months of 2019, an over twofold increase year-on-year (YoY) on higher sales volumes, and investment income.
The nine month results were also backed by a decline in selling, general and administrative expenses, in addition to other expenses and zakat provision.
Financials Highlights (M)
| Item | 9m-2018 | 9m -2019 | Change |
|---|---|---|---|
| Revenues | 412.30 | 513.80 | 24.6 % |
| Gross Income | 91.45 | 148.01 | 61.8 % |
| Operating Income | 44.85 | 102.08 | 127.6 % |
| Net Income | 44.19 | 114.20 | 158.5 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyal) | 0.51 | 1.33 | 158.5 % |
The third quarter net profit after zakat and tax surged to SAR 36 million, from SAR 9 million a year earlier attributed to higher sales volumes, and investment income.
On a sequential basis, Q3 2019 net profit jumped 12.5 percent.
Average Analysts Estimates
| 2019 - Q3 (e) | 2019 - Q3 (a) | Change | |
| Average | 27.03 | 36.45 | 34.8 % |
Estimates vs Actual Results
| Company | 2019 - Q3 (e) | 2019 - Q3 (a) | Difference |
| OBIC | 31.40 | 36.45 | 13.8 % |
| AlJazira Capital | 27.70 | 36.45 | 24.0 % |
| NCB Capital | 22.00 | 36.45 | 39.6 % |
Financials Highlights (M)
Business Segments
Valuation Data (Latest Share Price)
| P/E (TTM) | 22.03 |
| P/E Before Unusual Items (TTM) | 22.03 |
| P/BV | 1.38 |
| Dividend Yield | 3.62 % |
| Market Cap. (M) | 3,078.80 |
| Return on Average Assets | 5.50 % |
| Return on Average Equity | 6.32 % |
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