Qassim Cement Co. reported a slump of 75% in Q1 2022 net profit to SAR 25.1 million, compared to SAR 100.9 million in the year-earlier period, due to an increase in general and administrative expenses and decrease in other income, despite better sales value.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 223.35 | 142.49 | (36.2 %) |
| Gross Income | 112.40 | 27.37 | (75.6 %) |
| Operating Income | 103.99 | 18.86 | (81.9 %) |
| Net Income | 100.87 | 25.08 | (75.1 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 1.12 | 0.28 | (75.1 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 131.33 | 142.49 | 8.5 % |
| Gross Income | 3.81 | 27.37 | 618.7 % |
| Operating Income | 8.45 | 18.86 | 123.1 % |
| Net Income | 30.44 | 25.08 | (17.6 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.34 | 0.28 | (17.6 %) |
On a sequential basis, net profit fell by 25.9% from SAR 33.83 million.
Shareholders' equity, after minority interest, declined by 5.2% to SAR 1.706 billion in Q1 2022, compared to SAR 1.801 billion in the prior-year period.
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