Financial Results : Northern Cement net profit up 78% to SAR 27.6 mln in Q1 2020

Northern Cement net profit up 78% to SAR 27.6 mln in Q1 2020

14/06/2020 Argaam Exclusive

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Northern Region Cement Co. reported a net profit after Zakat and tax of SAR 27.6 million for the first quarter of 2020, a 78.01% year-on-year (YoY) increase, compared to SAR 15.5 million in the same period last year.

 

The increase in net profit was attributed to higher sales, higher other revenue and lower financing charges due to cutting the company’s general debt despite the increase in Zakat provision.

When compared to the previous quarter, the company’s net profit fell 25.24% due to lower sales and revenue within the regular business context.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 124.32 180.17 44.9 %
Gross Income 51.12 53.88 5.4 %
Operating Income 26.98 30.96 14.7 %
Net Income 15.42 27.43 77.9 %
Average Shares 180.00 180.00 -
EPS (Riyals) 0.09 0.15 77.9 %

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