Northern Cement posts net profit of SAR 56 mln in 9M

22/10/2019 Argaam Exclusive

Northern Region Cement Co. reported a net profit after zakat and tax of SAR 55.8 million in the first nine months of 2019, versus a net loss of SAR 238,519 in the same period last year, driven by higher sales volume of white and black cements.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 339.47 463.25 36.5 %
Gross Income 101.69 161.33 58.7 %
Operating Income 32.25 92.18 185.8 %
Net Income (0.18) 55.47 31088.8 %
Average Shares 180.00 180.00 -
EPS (Riyals) 0.00 0.31 31088.8 %

The cement producer reported net profit of SAR 26.2 million in Q3 2019, an increase of 426 percent, on the back of higher selling prices, and increased sales of white cement.

 

When compared to the previous quarter, Northern Cement’s net profit rose 86.5 percent.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 99.09 194.69 96.5 %
Gross Income 39.45 61.09 54.8 %
Operating Income 17.72 37.85 113.5 %
Net Income 5.00 26.08 422.1 %
Average Shares 180.00 180.00 -
EPS (Riyals) 0.03 0.14 422.1 %

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