Financial Results : Najran Cement net profit declines 61% to SAR 23.3 mln in Q1 2022

Najran Cement net profit declines 61% to SAR 23.3 mln in Q1 2022

19/05/2022 Argaam Exclusive

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Najran Cement Co. reported a net profit after Zakat and tax of SAR 23.3 million for Q1 2022, a 61% decline from SAR 60.3 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 184.43 139.87 (24.2 %)
Gross Income 75.39 38.31 (49.2 %)
Operating Income 63.46 26.13 (58.8 %)
Net Income 60.34 23.29 (61.4 %)
Average Shares 170.00 170.00 -
EPS (Riyals) 0.35 0.14 (61.4 %)

The profit decline is attributed to lower sales and higher cost of production inputs.

 

Sequentially, the company’s net profit fell 35.4% in Q1 2022 from a net profit of SAR 36.03 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 1.95 billion as of March 31, 2022, declining by 2.1% from SAR 1.99 billion a year earlier.

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