Financial Results : City Cement net profit rises 27% to SAR 157.8 mln in 9M 2020

City Cement net profit rises 27% to SAR 157.8 mln in 9M 2020

02/11/2020 Argaam Exclusive

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City Cement Co. reported a net profit after Zakat and tax of SAR 157.8 million in the first nine months of 2020, compared to a net profit of SAR 124.2 million a year earlier, backed by higher sales revenue and volumes, along with a rise in other revenue.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 373.12 419.74 12.5 %
Gross Income 149.76 191.63 28.0 %
Operating Income 123.10 163.91 33.2 %
Net Income 124.19 163.22 31.4 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items (Riyals) 0.89 1.17 31.4 %
EPS (Riyal) 0.89 1.17 31.4 %

In Q3 2020, the cement producer posted a marginal rise of 1% year-on-year (YoY) in net profit after Zakat and tax to SAR 51.1 million, on higher sales revenue and volumes, as well as lower general and administrative expenses.

 

When compared to the previous quarter, Q3 2020 net profit jumped 41.2%.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 127.96 140.60 9.9 %
Gross Income 56.22 62.43 11.1 %
Operating Income 47.78 53.54 12.0 %
Net Income 50.52 52.95 4.8 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items (Riyal) 0.36 0.38 4.8 %
EPS (Riyal) 0.36 0.38 4.8 %

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