Financial Results : Najran Cement H1 2021 profit rises 28% to SAR 93.5 mln

Najran Cement H1 2021 profit rises 28% to SAR 93.5 mln

04/08/2021 Argaam Exclusive

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Najran Cement Co. posted a net profit after Zakat and tax of SAR 93.5 million for the first half of 2021, rising 28% from SAR 73.1 million in the same period a year earlier.

 

The company attributed the profit rise to higher sales and a decline in financing expenses.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 277.83 316.01 13.7 %
Gross Income 106.76 122.05 14.3 %
Operating Income 86.45 98.91 14.4 %
Net Income 73.08 93.45 27.9 %
Average Shares 170.00 170.00 -
EPS (Riyals) 0.43 0.55 27.9 %

The cement producer reported a net profit after Zakat and tax of SAR 32.7 million for Q2 2021, declining marginally from SAR 32.9 million in the year-ago period, backed by higher cost of sales per ton.

 

When compared to the previous quarter, net profit after Zakat and tax fell 46.1% on cyclical trend of lower cement demand due to Ramadan and Eid Al Fitr.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 121.45 131.58 8.3 %
Gross Income 50.33 46.66 (7.3 %)
Operating Income 40.40 35.05 (13.2 %)
Net Income 32.96 32.71 (0.8 %)
Average Shares 170.00 170.00 -
EPS (Riyals) 0.19 0.19 (0.8 %)

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