Najran Cement posts SAR 53.5 mln profit in FY19

24/02/2020 Argaam Exclusive

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Najran Cement Co. reported a net profit after Zakat and tax of SAR 15.5 million for the fiscal year 2019, versus a net loss of SAR 83.5 million a year earlier.

The annual profit was buoyed by higher sales volumes and average selling prices, along with a decline in production costs per ton.

Financials (M)

Item	2018	2019	Change‬
Revenues	278.41	416.41	49.6 %
Gross Income	(13.95)	119.21	954.4 %
Operating Income	(49.22)	85.32	273.4 %
Net Income	(83.50)	53.52	164.1 %
Average Shares	170.00	170.00	-
EPS (Riyals)	(0.49)	0.31	164.1 %

In Q4 2019, the company turned to a net profit of SAR 35.9 million, compared to a net loss of SAR 17.9 million in year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	72.23	136.41	88.9 %
Gross Income	(3.54)	52.41	1580.0 %
Operating Income	(10.61)	43.71	512.1 %
Net Income	(17.87)	35.92	301.0 %
Average Shares	170.00	170.00	-
EPS (Riyals)	(0.11)	0.21	301.0 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	97.23	136.41	40.3 %
Gross Income	29.92	52.41	75.2 %
Operating Income	21.96	43.71	99.1 %
Net Income	14.13	35.92	154.1 %
Average Shares	170.00	170.00	-
EPS (Riyals)	0.08	0.21	154.1 %

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