Najran Cement Co. reported net profit after Zakat and tax of SAR 204.3 million, rising by more than three-fold year-on-year (YoY) for 2020.
The earnings hike was driven by higher sales volumes, lower cost of sales per ton, and decreased finance expenses.
The cement producer also cited the positive impact of finalizing Zakat settlements for the years (2014–2018), which led to a revision of Zakat provisions for those years.
Q4 2020 net profit after Zakat and tax rose 133% to SAR 83.81 million from SAR 35.92 million in the same period last year.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 416.41 | 623.20 | 49.7 % |
| Gross Income | 119.21 | 249.92 | 109.6 % |
| Operating Income | 85.32 | 205.28 | 140.6 % |
| Net Income | 53.52 | 200.94 | 275.5 % |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.31 | 1.18 | 275.5 % |
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 136.41 | 186.41 | 36.7 % |
| Gross Income | 52.41 | 81.14 | 54.8 % |
| Operating Income | 43.71 | 67.26 | 53.9 % |
| Net Income | 35.92 | 80.45 | 124.0 % |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.21 | 0.47 | 124.0 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 158.95 | 186.41 | 17.3 % |
| Gross Income | 62.02 | 81.14 | 30.8 % |
| Operating Income | 51.57 | 67.26 | 30.4 % |
| Net Income | 47.41 | 80.45 | 69.7 % |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.28 | 0.47 | 69.7 % |
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