Financial Results : Najran Cement H1 net profit slightly down to SAR 36.3 mln; Q2 at SAR 7.4 mln

Najran Cement H1 net profit slightly down to SAR 36.3 mln; Q2 at SAR 7.4 mln

31/07/2023 Argaam Exclusive

View other reports

Najran Cement Co.’s profits declined slightly in the first half of 2023 to SAR 36.3 million from SAR 36.5 million in H1 2022.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 247.92 244.98 (1.2 %)
Gross Income 69.11 70.78 2.4 %
Operating Income 42.83 49.14 14.7 %
Net Income 36.54 36.34 (0.5 %)
Average Shares 170.00 170.00 -
EPS (Riyals) 0.21 0.21 (0.5 %)

The marginal decline was attributed to an increase in financing costs, which were offset by a decrease in selling and distribution expenses as well as the cost of sales.

 

The company’s net profit fell in Q2 2023 by 45% to SAR 7.4 million from SAR 13.26 million in Q2 2022.

 

On a quarterly basis, net earnings dropped 74.6% from SAR 28.98 million in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 108.05 101.30 (6.2 %)
Gross Income 30.80 25.46 (17.3 %)
Operating Income 16.71 13.92 (16.7 %)
Net Income 13.26 7.36 (44.5 %)
Average Shares 170.00 170.00 -
EPS (Riyals) 0.08 0.04 (44.5 %)

Total shareholders’ equity, with no minority interests, stood at SAR 1.98 billion as of June 30, 2023, compared to SAR 1.95 billion in a prior-year period.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.