Eastern Province Cement Co. reported a net profit after Zakat and tax of SAR 217 million for 2020, a 20% increase from a net profit of SAR 180.7 million in 2019.
The company attributed the profit rise to an increase in quantity and value of cement sales, lower cost of sales and administrative and general expenses, as well as higher share of the results of an associate and other revenues.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 728.80 | 742.43 | 1.9 % |
| Gross Income | 217.96 | 258.05 | 18.4 % |
| Operating Income | 161.47 | 207.25 | 28.4 % |
| Net Income | 180.70 | 217.22 | 20.2 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 2.10 | 2.53 | 20.2 % |
The cement producer reported a net profit after Zakat and tax of SAR 58.7 million in Q4 2020, a 12% year-on-year (YoY) decline.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 215.00 | 203.03 | (5.6 %) |
| Gross Income | 69.95 | 69.29 | (0.9 %) |
| Operating Income | 59.39 | 57.46 | (3.2 %) |
| Net Income | 66.49 | 58.88 | (11.4 %) |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 0.77 | 0.68 | (11.4 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 159.10 | 203.03 | 27.6 % |
| Gross Income | 48.69 | 69.29 | 42.3 % |
| Operating Income | 40.45 | 57.46 | 42.0 % |
| Net Income | 42.63 | 58.88 | 38.1 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 0.50 | 0.68 | 38.1 % |
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