Saudi Cement Co. (SCC) reported a net profit after Zakat and tax of SAR 328.5 million for the first nine months of 2020, an increase of 7% from SAR 328.5 million a year earlier. The strong performance was backed by an increase in sales and other income, along with lower finance charges, as well as general and administrative expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,039.09 | 1,134.62 | 9.2 % |
| Gross Income | 453.15 | 489.63 | 8.0 % |
| Operating Income | 333.53 | 354.69 | 6.3 % |
| Net Income | 307.80 | 331.84 | 7.8 % |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 2.01 | 2.17 | 7.8 % |
The third quarter net profit after Zakat and tax jumped 28% year-on-year (YoY) to SAR 106.4 million, thanks to higher sales and other income, as well as increased profit share from associates. SCC also reported a decline in finance charges as well as general and administrative expenses.
When compared to Q2 2020, net profit rose by 42.8%, on higher sales and other income, as well as increased profit share from associates.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 310.12 | 386.81 | 24.7 % |
| Gross Income | 131.84 | 163.18 | 23.8 % |
| Operating Income | 92.84 | 113.99 | 22.8 % |
| Net Income | 83.02 | 107.64 | 29.7 % |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.54 | 0.70 | 29.7 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 297.45 | 386.81 | 30.0 % |
| Gross Income | 123.67 | 163.18 | 31.9 % |
| Operating Income | 82.92 | 113.99 | 37.5 % |
| Net Income | 75.70 | 107.64 | 42.2 % |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.49 | 0.70 | 42.2 % |
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