City Cement Co. reported a net profit after Zakat and tax of SAR 115.7 million in H1 2021, a rise of 5% from SAR 110.3 million in the year-earlier period, driven by an increase in sales value and volume and a decrease in general and administrative expenses, and Zakat provision.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 279.14 | 290.45 | 4.1 % |
| Gross Income | 129.20 | 133.87 | 3.6 % |
| Operating Income | 110.37 | 116.85 | 5.9 % |
| Net Income | 110.27 | 115.73 | 5.0 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.79 | 0.83 | 5.0 % |
The Q2 2021 net profit after Zakat and tax jumped 31% year-on-year (YoY) to SAR 49.7 million, the cement producer said.
On a sequential basis, Q2 2021 net profit declined by 24.7% from SAR 66 million.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 108.87 | 119.83 | 10.1 % |
| Gross Income | 46.96 | 57.72 | 22.9 % |
| Operating Income | 38.26 | 50.31 | 31.5 % |
| Net Income | 38.04 | 49.71 | 30.7 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.27 | 0.36 | 30.7 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 170.63 | 119.83 | (29.8 %) |
| Gross Income | 76.15 | 57.72 | (24.2 %) |
| Operating Income | 66.53 | 50.31 | (24.4 %) |
| Net Income | 66.02 | 49.71 | (24.7 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.47 | 0.36 | (24.7 %) |
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