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 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	62.56	87.61	40.0 %
Gross Income	30.42	41.62	36.8 %
Operating Income	27.53	38.55	40.0 %
Net Income	20.98	31.91	52.1 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.38	0.58	52.1 %

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