Umm Al-Qura Cement Co. (UACC) reported a net profit after Zakat and tax of SAR 60 million for the first half of 2020, an increase of 76% year-on-year (YoY), driven by higher sales revenue, strong sales volumes and improved selling prices.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 109.95 | 159.01 | 44.6 % |
| Gross Income | 51.89 | 78.56 | 51.4 % |
| Operating Income | 46.23 | 72.53 | 56.9 % |
| Net Income | 33.78 | 59.49 | 76.1 % |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.61 | 1.08 | 76.1 % |
The company’s net profit after Zakat and tax for the second quarter stood at SAR 21 million, up 71% YoY, due to higher sales volumes, increased revenue, and improved selling prices.
The cement producer also cited lower general and administrative expenses.
On a quarter-on-quarter basis, the profit for the current quarter decreased by 45.54%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 46.42 | 62.56 | 34.8 % |
| Gross Income | 21.55 | 30.42 | 41.1 % |
| Operating Income | 18.43 | 27.53 | 49.4 % |
| Net Income | 12.29 | 20.98 | 70.7 % |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.22 | 0.38 | 70.7 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 96.45 | 62.56 | (35.1 %) |
| Gross Income | 48.14 | 30.42 | (36.8 %) |
| Operating Income | 45.00 | 27.53 | (38.8 %) |
| Net Income | 38.51 | 20.98 | (45.5 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.70 | 0.38 | (45.5 %) |
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