Najran Cement Co. reported a net profit after Zakat and tax of SAR 60.7 million for Q1 2021, a rise of 51% from SAR 40.1 million in the year-ago period.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 156.38 | 184.43 | 17.9 % |
| Gross Income | 56.43 | 75.39 | 33.6 % |
| Operating Income | 46.06 | 63.46 | 37.8 % |
| Net Income | 40.12 | 60.34 | 50.4 % |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.24 | 0.35 | 50.4 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 186.41 | 184.43 | (1.1 %) |
| Gross Income | 81.14 | 75.39 | (7.1 %) |
| Operating Income | 67.26 | 63.46 | (5.6 %) |
| Net Income | 80.45 | 60.34 | (25.0 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.47 | 0.35 | (25.0 %) |
The quarterly figures were driven by higher sales volumes, a decline in the cost of sales per ton and lower finance expenses.
When compared to Q4 2020, the company’s net profit after Zakat and tax decreased by 27.5% from SAR 83.8 million, hit by the positive impact of finalizing Zakat assessments of previous years on the previous quarterly results.
Shareholders’ equity, excluding minority interest, declined 1.7% to SAR 1.988 billion by the end of Q1 2021, compared to SAR 2.023 billion in the year-ago period.
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