Arabian Cement Co. reported a net profit after Zakat and tax of SAR 100.5 million in the first half of 2021, a 91% increase, compared to SAR 52.7 million a year earlier.
The company attributed the profit rise to higher sales value and volumes from its Jordan subsidiary, despite decreased average sale price and higher marketing expenses due to rise in export volumes.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 344.15 | 554.48 | 61.1 % |
| Gross Income | 102.93 | 167.10 | 62.3 % |
| Operating Income | 71.92 | 115.96 | 61.2 % |
| Net Income | 52.72 | 100.48 | 90.6 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.53 | 1.00 | 90.6 % |
In Q2 2021, the company’s net profit after Zakat and tax surged over fourfold year-on-year (YoY) to SAR 33.5 million, due to higher sales value and volumes from its Jordan subsidiary.
When compared to the previous quarter, net profit dropped 50% on seasonality factors.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 139.56 | 232.98 | 66.9 % |
| Gross Income | 30.95 | 62.97 | 103.5 % |
| Operating Income | 14.94 | 37.62 | 151.8 % |
| Net Income | 7.61 | 33.52 | 340.8 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.08 | 0.34 | 340.8 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 321.50 | 232.98 | (27.5 %) |
| Gross Income | 104.13 | 62.97 | (39.5 %) |
| Operating Income | 78.34 | 37.62 | (52.0 %) |
| Net Income | 66.96 | 33.52 | (49.9 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.67 | 0.34 | (49.9 %) |
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