Hail Cement Co. swung to a net loss after Zakat and tax of SAR 13.7 million for the first half of 2022, against a net profit of SAR 41.2 million a year earlier, on a decline in average selling prices and higher cost of sales.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 147.80 | 164.94 | 11.6 % |
| Gross Income | 51.36 | 16.32 | (68.2 %) |
| Operating Income | 38.87 | 4.98 | (87.2 %) |
| Net Income | 41.22 | (13.72) | (133.3 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.42 | (0.14) | (133.3 %) |
The company recorded losses from financial investments at fair value during the current period, against profits in H1 2021.
Financial provisions of SAR 10 million were allocated for a government authority, despite higher value of sales compared to H1 2021.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 65.91 | 96.32 | 46.1 % |
| Gross Income | 20.45 | 17.96 | (12.2 %) |
| Operating Income | 15.03 | 12.34 | (17.9 %) |
| Net Income | 15.35 | (6.83) | (144.5 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.16 | (0.07) | (144.5 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 68.62 | 96.32 | 40.4 % |
| Gross Income | (1.64) | 17.96 | 1194.0 % |
| Operating Income | (7.36) | 12.34 | 267.7 % |
| Net Income | (6.89) | (6.83) | 0.9 % |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | (0.07) | (0.07) | 0.9 % |
In Q2 2022, the cement producer turned to a net loss after Zakat and tax of SAR 6.8 million, from a net profit of SAR 15.3 million in the prior-year period, battered by a decline in average selling prices and losses from financial investments at fair value during the current quarter.
Financial provisions of SAR 10 million were allocated for a government authority, despite higher value and volume of sales.
Compared to Q1 2022, net losses marginally decreased by 0.9% from SAR 6.89 million, thanks to a rise in sales volume and value.
Shareholders’ equity, after minority interest, dropped to SAR 1.090 billion as of June 30, 2022, from SAR 1.155 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}