Financial Results : City Cement net profit rises 5% to SAR 115.7 mln in H1 2021

City Cement net profit rises 5% to SAR 115.7 mln in H1 2021

03/08/2021 Argaam Exclusive

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City Cement Co. reported a net profit after Zakat and tax of SAR 115.7 million in H1 2021, a rise of 5% from SAR 110.3 million in the year-earlier period, driven by an increase in sales value and volume and a decrease in general and administrative expenses, and Zakat provision. 



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 279.14 290.45 4.1 %
Gross Income 129.20 133.87 3.6 %
Operating Income 110.37 116.85 5.9 %
Net Income 110.27 115.73 5.0 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items (Riyals) 0.79 0.83 5.0 %
EPS (Riyals) 0.79 0.83 5.0 %

The Q2 2021 net profit after Zakat and tax jumped 31% year-on-year (YoY) to SAR 49.7 million, the cement producer said.

 

On a sequential basis, Q2 2021 net profit declined by 24.7% from SAR 66 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 108.87 119.83 10.1 %
Gross Income 46.96 57.72 22.9 %
Operating Income 38.26 50.31 31.5 %
Net Income 38.04 49.71 30.7 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items (Riyals) 0.27 0.36 30.7 %
EPS (Riyals) 0.27 0.36 30.7 %

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