Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 49.5 million in the first half of 2021, down 17%, from SAR 59.5 million in the year-earlier period.
The decline was attributed to lower sales value, higher selling and marketing expenses as well as general and administrative expenses, and Zakat charges.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 159.01 | 154.30 | (3.0 %) |
| Gross Income | 78.56 | 68.81 | (12.4 %) |
| Operating Income | 72.53 | 62.27 | (14.1 %) |
| Net Income | 59.49 | 49.45 | (16.9 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 1.08 | 0.90 | (16.9 %) |
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 62.56 | 63.90 | 2.1 % |
| Gross Income | 30.42 | 27.95 | (8.1 %) |
| Operating Income | 27.53 | 24.45 | (11.2 %) |
| Net Income | 20.98 | 18.41 | (12.2 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.38 | 0.33 | (12.2 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 90.41 | 63.90 | (29.3 %) |
| Gross Income | 40.86 | 27.95 | (31.6 %) |
| Operating Income | 37.82 | 24.45 | (35.4 %) |
| Net Income | 31.04 | 18.41 | (40.7 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.56 | 0.33 | (40.7 %) |
In Q2 2021, net profit after Zakat and tax fell 12% year-on-year (YoY) to SAR 18.4 million, hit by higher cost of sales, along with an increase in selling and marketing expenses as well as general and administrative expenses, and Zakat charges.
On a sequential basis, net profit after Zakat and tax plunged 40.7% from SAR 31 million.
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