Umm Al-Qura Cement reports more than seven-fold profit increase in FY19

25/02/2020 Argaam Exclusive

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Umm Al-Qura Cement Co. (UACC) reported a net profit after Zakat and tax of SAR 79.8 million for the fiscal year of 2019, an increase of more than seven-fold year-on-year (YoY), the company said in a bourse statement.

The profit hike was mainly driven by higher sales volumes and revenue, improved selling prices and lower selling and marketing expenses, despite increased zakat expenses.

Financials (M)

Item	2018	2019	Change‬
Revenues	164.44	255.94	55.6 %
Gross Income	48.63	119.10	144.9 %
Operating Income	35.33	106.56	201.6 %
Net Income	10.13	79.82	688.1 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.18	1.45	688.1 %

The Saudi cement producer reported net profit of SAR 27.1 million in Q4 2019, compared to net profit of SAR 3.69 million in Q4 2018.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	43.07	82.03	90.4 %
Gross Income	14.33	39.08	172.8 %
Operating Income	11.64	35.20	202.3 %
Net Income	3.69	27.10	634.2 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.07	0.49	634.2 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	63.96	82.03	28.2 %
Gross Income	28.14	39.08	38.9 %
Operating Income	25.13	35.20	40.1 %
Net Income	18.94	27.10	43.1 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.34	0.49	43.1 %

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