Al Yamamah Steel Industries Co. reported a net profit after Zakat and tax of SAR 69.2 million for the first half ended May 30, 2022, a 33% drop from SAR 102.7 million a year earlier.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 887.89 | 912.55 | 2.8 % |
| Gross Income | 180.22 | 133.67 | (25.8 %) |
| Operating Income | 140.13 | 96.42 | (31.2 %) |
| Net Income | 102.69 | 69.17 | (32.6 %) |
| Average Shares | 50.80 | 50.80 | - |
| EPS (Riyals) | 2.02 | 1.36 | (32.6 %) |
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 453.02 | 448.31 | (1.0 %) |
| Gross Income | 100.98 | 67.47 | (33.2 %) |
| Operating Income | 79.47 | 50.55 | (36.4 %) |
| Net Income | 60.02 | 35.16 | (41.4 %) |
| Average Shares | 50.80 | 50.80 | - |
| EPS (Riyals) | 1.18 | 0.69 | (41.4 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 464.24 | 448.31 | (3.4 %) |
| Gross Income | 66.20 | 67.47 | 1.9 % |
| Operating Income | 45.87 | 50.55 | 10.2 % |
| Net Income | 34.01 | 35.16 | 3.4 % |
| Average Shares | 50.80 | 50.80 | - |
| EPS (Riyals) | 0.67 | 0.69 | 3.4 % |
The lower profit was attributed to a rise of 56.98% and 11.66% year-on-year (YoY) in the cost of raw materials in the construction and electricity segments, respectively. The company also saw its sales volumes from the construction and electricity segments lower by 29.09% and 4.42% YoY, respectively. Finance charges increased by SAR 1.88 million YoY.
The second-quarter net profit after Zakat and tax fell by 41% to SAR 35.2 million from SAR 60 million in the year-earlier period. The cost of raw materials jumped by 45% YoY. The company also reported a drop in sales volumes from the construction and electricity segments by 21.52% and 14.46% YoY, respectively. Finance charges rose by SAR 1.94 million YoY.
Net profit after Zakat and tax grew by 3.4% from SAR 34 million in the previous quarter.
Total shareholders’ equity, after minority interest, stood at SAR 781.7 million at the end of the period, up from SAR 694.4 million a year earlier.
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}}