Najran Cement Co. reported a net profit after Zakat and tax of SAR 165.6 million in 2021, down 18%, compared to SAR 200.9 million.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 623.20 | 581.55 | (6.7 %) |
| Gross Income | 249.92 | 230.32 | (7.8 %) |
| Operating Income | 205.28 | 180.94 | (11.9 %) |
| Net Income | 200.94 | 165.55 | (17.6 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 1.18 | 0.97 | (17.6 %) |
The decline in earnings is due to lower sales and recording a positive adjustment to last year’s Zakat provision, despite a decrease in finance expenses in the current year.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 186.41 | 139.66 | (25.1 %) |
| Gross Income | 81.14 | 58.97 | (27.3 %) |
| Operating Income | 67.26 | 43.22 | (35.7 %) |
| Net Income | 80.45 | 36.03 | (55.2 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.47 | 0.21 | (55.2 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 125.89 | 139.66 | 10.9 % |
| Gross Income | 49.30 | 58.97 | 19.6 % |
| Operating Income | 38.82 | 43.22 | 11.3 % |
| Net Income | 36.07 | 36.03 | (0.1 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.21 | 0.21 | (0.1 %) |
The company’s Q4 2021 net profit after Zakat and tax declined 55% year-on-year to SAR 36 million.
Sequentially, net profit fell marginally from Q3 2021.
Total shareholders' equity, excluding minority interest, decreased to SAR 1.965 billion in 2021, compared to SAR 2.055 billion in 2020.
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