City Cement Co.’s net profit after Zakat and tax slumped 64% to SAR 42 million in H1 2022, from SAR 116 million in the year-earlier period, due to lower sales value and volume.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 290.45 | 197.34 | (32.1 %) |
| Gross Income | 133.87 | 59.15 | (55.8 %) |
| Operating Income | 116.85 | 41.70 | (64.3 %) |
| Net Income | 115.73 | 41.99 | (63.7 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.83 | 0.30 | (63.7 %) |
Q2 2022 net profit after Zakat and tax plunged 50% year-on-year (YoY) to SAR 25 million, the cement producer said.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 119.83 | 89.24 | (25.5 %) |
| Gross Income | 57.72 | 32.87 | (43.1 %) |
| Operating Income | 50.31 | 24.23 | (51.8 %) |
| Net Income | 49.71 | 24.84 | (50.0 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.36 | 0.18 | (50.0 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 108.10 | 89.24 | (17.5 %) |
| Gross Income | 26.29 | 32.87 | 25.0 % |
| Operating Income | 17.47 | 24.23 | 38.7 % |
| Net Income | 17.15 | 24.84 | 44.8 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.12 | 0.18 | 44.8 % |
On a sequential basis, Q2 2022 net profit rose 44.8% from SAR 17.15 million.
Shareholders’ equity, after minority interest, stood at SAR 1.802 billion as of June 30, 2022, from SAR 1.890 billion a year earlier.
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