Financial Results : Najran Cement profit up 25% to SAR 29 mln in Q1 2023

Najran Cement profit up 25% to SAR 29 mln in Q1 2023

16/05/2023 Argaam Exclusive

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Najran Cement Co. reported a 25% rise in Q1 2023 net profit to SAR 29 million, from SAR 23.3 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 139.87 143.68 2.7 %
Gross Income 38.31 45.32 18.3 %
Operating Income 26.13 35.22 34.8 %
Net Income 23.29 28.98 24.5 %
Average Shares 170.00 170.00 -
EPS (Riyals) 0.14 0.17 24.5 %

The profit growth was driven by higher revenue, along with lower selling and distribution expenses, despite an increase in financing cost.

 

Compared to Q4 2022, the first-quarter net profit fell 41.2% from SAR 49.33 million hurt by lower sales volumes and higher production input costs.

 

Shareholders’ equity, after minority interest, rose to SAR 1.97 billion by March 31, 2023, compared to SAR 1.94 billion in the year-earlier period

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