Saudi Cement Co. posted a net profit after Zakat and tax of SAR 456 million for the fiscal year (FY) 2020, marginally up 1%, from SAR 451.4 million in 2019.
The company attributed the profit rise to increase in sales and other income, and lower general and administrative expenses and financial charges.
This came despite higher selling and distribution expenses and Zakat provision.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 1,441.63 | 1,569.63 | 8.9 % |
| Gross Income | 649.79 | 666.38 | 2.6 % |
| Operating Income | 490.99 | 479.07 | (2.4 %) |
| Net Income | 451.40 | 455.96 | 1.0 % |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 2.95 | 2.98 | 1.0 % |
In Q4 2020, the cement producer posted 14% decline in net profit to SAR 124.2 million.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 402.54 | 435.01 | 8.1 % |
| Gross Income | 196.64 | 176.75 | (10.1 %) |
| Operating Income | 157.45 | 124.38 | (21.0 %) |
| Net Income | 143.60 | 124.12 | (13.6 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.94 | 0.81 | (13.6 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 386.81 | 435.01 | 12.5 % |
| Gross Income | 163.18 | 176.75 | 8.3 % |
| Operating Income | 113.99 | 124.38 | 9.1 % |
| Net Income | 107.64 | 124.12 | 15.3 % |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.70 | 0.81 | 15.3 % |
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