Financial Results : Umm Al-Qura Cement’s net profit drops 55% to SAR 13.8 mln in Q1 2022

Umm Al-Qura Cement’s net profit drops 55% to SAR 13.8 mln in Q1 2022

09/05/2022 Argaam Exclusive

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Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 13.8 million in Q1 2022, a decline of 55% from SAR 31 million in the year-earlier period, driven by lower sales value and volume.

 

The Saudi cement producer also cited higher selling and marketing expenses, general and administrative expenses for the current quarter.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 90.41 65.60 (27.4 %)
Gross Income 40.86 23.80 (41.7 %)
Operating Income 37.82 20.45 (45.9 %)
Net Income 31.04 14.51 (53.3 %)
Average Shares 55.00 55.00 -
EPS (Riyals) 0.56 0.26 (53.3 %)

On a sequential basis, net earnings dropped 13.9% from SAR 16.1 million in Q4 2021.

Total shareholders’ equity, excluding minority interest, rose 1.5% year-on-year (YoY) to SAR 762.946 million in Q1 2022.

 

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