Hail Cement Co. reported a net profit after Zakat and tax of SAR 62 million in the first half of 2020, compared to a net profit of SAR 20.6 million a year earlier.
The over three-fold increase year-on-year (YoY) was driven by higher revenue.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 122.00 | 185.70 | 52.2 % |
| Gross Income | 33.34 | 83.49 | 150.4 % |
| Operating Income | 21.86 | 72.08 | 229.8 % |
| Net Income | 20.63 | 61.97 | 200.5 % |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.21 | 0.63 | 200.5 % |
In Q2 2020, the cement producer swung to a net profit after Zakat and tax of SAR 22 million, against a net loss of SAR 1.9 million a year earlier, on increased revenue and lower expenses.
When compared to the previous quarter, net profit dropped 46% hit by a decline in revenue.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 53.43 | 66.24 | 24.0 % |
| Gross Income | 6.17 | 28.47 | 361.7 % |
| Operating Income | 0.34 | 23.90 | 7033.7 % |
| Net Income | (1.92) | 21.75 | 1232.1 % |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | (0.02) | 0.22 | 1232.1 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 119.46 | 66.24 | (44.6 %) |
| Gross Income | 55.02 | 28.47 | (48.3 %) |
| Operating Income | 48.19 | 23.90 | (50.4 %) |
| Net Income | 40.22 | 21.75 | (45.9 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.41 | 0.22 | (45.9 %) |
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