Financial Results : Umm Al-Qura Cement's net profit rises 73% to SAR 91.4 mln in 9M 2020

Umm Al-Qura Cement's net profit rises 73% to SAR 91.4 mln in 9M 2020

28/10/2020 Argaam Exclusive

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Umm Al-Qura Cement Co. (UACC) reported a net profit after Zakat and tax of SAR 91.4 million for the first nine months of 2020, an increase of 73% year-on-year (YoY), driven by higher sales revenue, strong sales volumes and improved average selling prices.

 

Other income also rose when compared to the same period last year.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 173.91 246.62 41.8 %
Gross Income 80.02 120.17 50.2 %
Operating Income 71.36 111.07 55.7 %
Net Income 52.72 91.40 73.4 %
Average Shares 55.00 55.00 -
EPS (Riyals) 0.96 1.66 73.4 %

The company’s net profit after Zakat and tax for Q3 2020 stood at SAR 31.9 million, a rise of 69% YoY, due to higher sales volumes, increased revenue, and improved selling prices.

 

The company’s net profit also jumped 52% when compared to Q2 2020, backed by higher revenue, sales volumes despite an increase in general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 63.96 87.61 37.0 %
Gross Income 28.14 41.62 47.9 %
Operating Income 25.13 38.55 53.4 %
Net Income 18.94 31.91 68.5 %
Average Shares 55.00 55.00 -
EPS (Riyals) 0.34 0.58 68.5 %

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