Financial Results : Al Jouf Cement profit up 43% to SAR 20.6M in H1 2024; Q2 at SAR 8.1M

Al Jouf Cement profit up 43% to SAR 20.6M in H1 2024; Q2 at SAR 8.1M

08/08/2024 Argaam Exclusive

View other reports

Al Jouf Cement Co. posted a net profit of SAR 20.6 million in H1 2024, up 43% from SAR 14.4 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 138.23 160.01 15.8 %
Gross Income 45.12 56.24 24.7 %
Operating Income 35.17 47.69 35.6 %
Net Income 14.36 20.58 43.3 %
Average Shares 108.70 108.70 -
Earnings Per Share before unusual items (Riyals) 0.12 0.19 54.6 %
EPS (Riyals) 0.13 0.19 43.3 %

Revenues rose 16% year-on-year (YoY), driven by higher sales volume. However, the increase in financing costs and Zakat expenses weighed on the earnings, the cement producer said.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 67.96 77.96 14.7 %
Gross Income 20.78 27.95 34.5 %
Operating Income 15.66 23.13 47.7 %
Net Income 4.08 8.13 98.9 %
Average Shares 108.70 108.70 -
Earnings Per Share before unusual items (Riyals) 0.04 0.07 94.9 %
EPS (Riyals) 0.04 0.07 98.9 %

In Q2 2024, the company’s profit almost doubled to SAR 8.1 million from SAR 4.1 million in Q2 2023, driven by higher sales despite the increase in average cost of sale impacted by higher fuel prices and financing cost.

 

Sequentially, net profit fell 34.7% from SAR 12.45 million in Q1 2024, attributed to lower sales due to Eid Al-Fitr and Eid Al-Adha holidays. 

 

Shareholders’ equity, no minority interest, stood at SAR 1.24 billion as of June 30, 2024, compared to SAR 1.15 billion a year earlier.

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.