Umm Al-Qura Cement Co.'s H1 2024 net earnings surged to SAR 30.1 million, compared with SAR 8.6 million in the prior-year period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 84.99 | 131.20 | 54.4 % |
| Gross Income | 26.24 | 48.76 | 85.8 % |
| Operating Income | 18.83 | 40.12 | 113.0 % |
| Net Income | 8.60 | 30.05 | 249.3 % |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.16 | 0.55 | 249.3 % |
The profit growth was spurred by higher sales due to an increase in sales volumes and value amid improved average selling prices. This was in addition to returning cement production rates to normal levels, paired with lower financing costs.
The cement producer’s Q2 2024 net profit also soared to SAR 15.58 million, from SAR 1.83 million a year before, driven by higher sales on an uptick in sales volumes and value.
On a sequential basis, Q2 net profit rose 7.7% from SAR 14.47 million in Q1 2024.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 37.83 | 66.52 | 75.8 % |
| Gross Income | 10.99 | 25.13 | 128.6 % |
| Operating Income | 7.20 | 20.61 | 186.1 % |
| Net Income | 1.83 | 15.58 | 753.8 % |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.03 | 0.28 | 753.8 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 64.68 | 66.52 | 2.8 % |
| Gross Income | 23.63 | 25.13 | 6.4 % |
| Operating Income | 19.51 | 20.61 | 5.6 % |
| Net Income | 14.47 | 15.58 | 7.7 % |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.26 | 0.28 | 7.7 % |
Total shareholders’ equity, no minority interest, stood at SAR 796.13 million by the end of H1 2024, advancing from SAR 770.75 million in the year-earlier period.
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SADAFCO | 128.83 | 127.79 | (0.8 %) |
| UACC | 16.49 | 15.58 | (5.5 %) |
| MODERN MILLS | 48.53 | 44.51 | (8.3 %) |
| AMERICANA | 218.71 | 194.76 | (11.0 %) |
| Leejam Sports | 89.26 | 73.00 | (18.2 %) |
| SAUDI CERAMICS | 13.00 | (10.82) | (183.2 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| BUPA ARABIA | 384.25 | 404.60 | 5.3 % |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAUDI CERAMICS | 13.00 | (10.82) | (183.2 %) |
| Leejam Sports | 89.26 | 73.00 | (18.2 %) |
| AMERICANA | 218.71 | 194.76 | (11.0 %) |
| MODERN MILLS | 48.53 | 44.51 | (8.3 %) |
| UACC | 16.49 | 15.58 | (5.5 %) |
| SADAFCO | 128.83 | 127.79 | (0.8 %) |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}