Riyadh Cement H1 2023 profit up 53% to SAR 126.7 mln

24/08/2023 Argaam Exclusive

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Riyadh Cement Co. (RCC) posted a 53% rise in H1 2023 net profit to SAR 126.7 million from SAR 82.7 million in H1 2022.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	258.61	344.75	33.3 %
Gross Income	103.31	151.92	47.1 %
Operating Income	88.09	133.55	51.6 %
Net Income	82.68	126.65	53.2 %
Average Shares	120.00	120.00	-
EPS (Riyals)	0.69	1.06	53.2 %

The profit growth was driven by higher sales, despite the increase in general and administrative expenses.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬

Total shareholders’ equity, no minority interest, reached SAR 1.71 billion as of June 30, 2023, up from SAR 1.65 billion a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2019	266.90	72.13	0.60
H2 2019	327.10	117.92	0.98
H1 2020	298.88	121.33	1.01
H2 2020	291.41	98.62	0.82
H1 2021	401.44	160.39	1.34
H2 2021	269.63	53.34	0.44
H1 2022	258.61	82.68	0.69
H2 2022	339.40	104.77	0.87
H1 2023	344.75	126.65	1.06

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