Financial Results : Riyadh Cement 9M 2024 net profit grows to SAR 229.1M, SAR 94.6M in Q3

Riyadh Cement 9M 2024 net profit grows to SAR 229.1M, SAR 94.6M in Q3

06/11/2024 Argaam Exclusive

View other reports

Riyadh Cement Co. posted SAR 229.1 million in net profit for the first nine months of 2024, a rise of 58% from SAR 145.4 million in 9M 2023.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 471.90 555.55 17.7 %
Gross Income 181.76 240.01 32.0 %
Operating Income 155.02 215.42 39.0 %
Net Income 145.36 229.11 57.6 %
Average Shares 120.00 120.00 -
EPS (Riyals) 1.21 1.91 57.6 %

The year-on-year (YoY) profit hike was spurred by an increase in selling prices and sales value for the nine-month period, as well as a rise in other revenues.

 

In Q3 2024, the cement producer saw a more than five-fold leap to SAR 94.6 million, from SAR 18.71 million a year ago, thanks to improved sales volumes and selling prices. This came despite the increased Zakat expenses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 127.15 203.01 59.7 %
Gross Income 29.83 83.91 181.3 %
Operating Income 21.27 74.62 250.8 %
Net Income 18.71 94.58 405.5 %
Average Shares 120.00 120.00 -
EPS (Riyals) 0.16 0.79 405.5 %

Sequentially, the bottom line surged by 46.8% from SAR 64.42 million in Q2 2024.

 

Shareholders’ equity (no minority interest) amounted to SAR 1.69 billion by the end of September 2024, soaring from SAR 1.63 billion in prior-year period.

View more financial results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.