City Cement Co.’s net profit rose 24% to SAR 51.9 million in H1 2023, compared with SAR 42 million in the year-earlier period, due to higher sales and other revenues.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 197.34 | 186.04 | (5.7 %) |
| Gross Income | 59.15 | 63.83 | 7.9 % |
| Operating Income | 41.70 | 45.81 | 9.8 % |
| Net Income | 41.99 | 51.88 | 23.5 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.30 | 0.37 | 23.5 % |
Q2 2023 net profit fell 2% year-on-year (YoY) to SAR 24.3 million on lower sales.
On a sequential basis, Q2 2022 net profit dropped 11.9% from SAR 27.59 million.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 89.24 | 77.79 | (12.8 %) |
| Gross Income | 32.87 | 30.84 | (6.2 %) |
| Operating Income | 24.23 | 21.60 | (10.9 %) |
| Net Income | 24.84 | 24.29 | (2.2 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.18 | 0.17 | (2.2 %) |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 108.25 | 77.79 | (28.1 %) |
| Gross Income | 32.98 | 30.84 | (6.5 %) |
| Operating Income | 24.26 | 21.60 | (11.0 %) |
| Net Income | 27.59 | 24.29 | (11.9 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.20 | 0.17 | (11.9 %) |
Shareholders’ equity, no minority interest, stood at SAR 1.800 billion as of June 30, 2023, from SAR 1.802 billion a year earlier.
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