City Cement net profit rises 5% to SAR 115.7 mln in H1 2021

03/08/2021 Argaam Exclusive

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City Cement Co. reported a net profit after Zakat and tax of SAR 115.7 million in H1 2021, a rise of 5% from SAR 110.3 million in the year-earlier period, driven by an increase in sales value and volume and a decrease in general and administrative expenses, and Zakat provision.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	279.14	290.45	4.1 %
Gross Income	129.20	133.87	3.6 %
Operating Income	110.37	116.85	5.9 %
Net Income	110.27	115.73	5.0 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.79	0.83	5.0 %

The Q2 2021 net profit after Zakat and tax jumped 31% year-on-year (YoY) to SAR 49.7 million, the cement producer said.

On a sequential basis, Q2 2021 net profit declined by 24.7% from SAR 66 million.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	108.87	119.83	10.1 %
Gross Income	46.96	57.72	22.9 %
Operating Income	38.26	50.31	31.5 %
Net Income	38.04	49.71	30.7 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.27	0.36	30.7 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	170.63	119.83	(29.8 %)
Gross Income	76.15	57.72	(24.2 %)
Operating Income	66.53	50.31	(24.4 %)
Net Income	66.02	49.71	(24.7 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	0.47	0.36	(24.7 %)

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