Najran Cement’s net profit surges to SAR 204.3 mln in 2020

23/02/2021 Argaam Exclusive

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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.

Financials (M)

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 %

Current Quarter Comparison (M)

Compared With The

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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