Financial Results : City Cement Q1 2020 net profit rises 70% to SAR 70.5 mln

City Cement Q1 2020 net profit rises 70% to SAR 70.5 mln

07/05/2020 Argaam Exclusive

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City Cement Co.’s net profit after Zakat and tax jumped 70% year-on-year (YoY) to SAR 70.5 million for the first quarter of 2020, compared to SAR 41.4 million in the same period last year.

 

The increase was driven by higher sales revenue and volumes, other income as well as lower general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 137.10 170.28 24.2 %
Gross Income 51.29 82.24 60.3 %
Operating Income 42.12 72.11 71.2 %
Net Income 41.42 72.23 74.4 %
Average Shares 140.00 140.00 -
EPS (Riyals) 0.30 0.52 74.4 %

When compared to the previous quarter, Q1 net profit increased 24% on higher sales volumes and revenue, and other income.

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