City Cement net profit rises 27% to SAR 157.8 mln in 9M 2020

02/11/2020 Argaam Exclusive

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City Cement Co. reported a net profit after Zakat and tax of SAR 157.8 million in the first nine months of 2020, compared to a net profit of SAR 124.2 million a year earlier, backed by higher sales revenue and volumes, along with a rise in other revenue.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	373.12	419.74	12.5 %
Gross Income	149.76	191.63	28.0 %
Operating Income	123.10	163.91	33.2 %
Net Income	124.19	163.22	31.4 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.89	1.17	31.4 %

In Q3 2020, the cement producer posted a marginal rise of 1% year-on-year (YoY) in net profit after Zakat and tax to SAR 51.1 million, on higher sales revenue and volumes, as well as lower general and administrative expenses.

When compared to the previous quarter, Q3 2020 net profit jumped 41.2%.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	127.96	140.60	9.9 %
Gross Income	56.22	62.43	11.1 %
Operating Income	47.78	53.54	12.0 %
Net Income	50.52	52.95	4.8 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.36	0.38	4.8 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	108.87	140.60	29.2 %
Gross Income	46.96	62.43	32.9 %
Operating Income	38.26	53.54	39.9 %
Net Income	38.04	52.95	39.2 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.27	0.38	39.2 %

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