Al Jouf Cement Co.’s net profit after Zakat and tax fell 92% to SAR 1.82 million in H1 2022, compared to SAR 25.7 million in the year-ago period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 121.63 | 98.29 | (19.2 %) |
| Gross Income | 49.50 | 26.79 | (45.9 %) |
| Operating Income | 37.49 | 15.12 | (59.7 %) |
| Net Income | 25.69 | 1.82 | (92.9 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.24 | 0.02 | (92.9 %) |
The profit decline was attributed to decreased sales volume and value, in addition to lower domestic cement selling prices.
In Q2 2022, the cement producer turned to a net loss after Zakat and tax of SAR 1.73 million, from a profit of SAR 7.69 million in the corresponding period of 2021.
Sequentially, Al Jouf Cement also turned to losses from a net profit of SAR 3.55 million.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 53.74 | 49.48 | (7.9 %) |
| Gross Income | 19.25 | 12.87 | (33.1 %) |
| Operating Income | 13.12 | 7.23 | (44.9 %) |
| Net Income | 7.69 | (1.73) | (122.5 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.07 | (0.02) | (122.5 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 48.81 | 49.48 | 1.4 % |
| Gross Income | 13.92 | 12.87 | (7.5 %) |
| Operating Income | 7.89 | 7.23 | (8.4 %) |
| Net Income | 3.55 | (1.73) | (148.8 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.03 | (0.02) | (148.8 %) |
Total shareholders’ equity, after minority interest, reached SAR 1.094 billion by the end of the six-month period, from SAR 1.268 billion a year earlier.
Accumulated losses stood at SAR 340.861 million, or 23.84% of the cement producer’s capital as of June 30, 2022.
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}}