Northern Region Cement Co. reported a net profit after Zakat and tax of SAR 75.7 million in the first nine months of 2022, a 7% increase compared to SAR 70.9 million in the year-ago period.
The profit hike was driven by higher external investment returns despite a surge in financing cost.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 435.30 | 432.94 | (0.5 %) |
| Gross Income | 138.18 | 147.10 | 6.5 % |
| Operating Income | 84.51 | 95.43 | 12.9 % |
| Net Income | 70.93 | 75.43 | 6.3 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.39 | 0.42 | 6.3 % |
In Q3 2022, the net profit after Zakat and tax saw a 51% increase to SAR 27.6 million, from SAR 18.4 million in the year before.
Sequentially, the cement producer’s net profit rose 12% from SAR 24.7 million in Q2 2022.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 128.10 | 166.26 | 29.8 % |
| Gross Income | 42.02 | 62.00 | 47.6 % |
| Operating Income | 21.50 | 32.82 | 52.7 % |
| Net Income | 18.36 | 27.56 | 50.1 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.10 | 0.15 | 50.1 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 133.42 | 166.26 | 24.6 % |
| Gross Income | 49.54 | 62.00 | 25.2 % |
| Operating Income | 32.88 | 32.82 | (0.2 %) |
| Net Income | 24.64 | 27.56 | 11.9 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.14 | 0.15 | 11.9 % |
Shareholders’ equity, excluding minority interest, grew to SAR 2.238 billion as of Sept. 30, 2022, from SAR 2.181 billion in the year-earlier period.
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