Arabian Cement’s profit rises 6% to SAR 145.9 mln in 9M 2022; Q3 at SAR 59 mln

27/10/2022 Argaam Exclusive

View other reports

Arabian Cement Co. (ACC) reported a net profit after Zakat and tax of SAR 145.9 million for the first nine months of 2022, a 6% jump, compared to SAR 138.2 million in the year-earlier period.

The higher profit was attributed to increased profit share from associate companies, a rise in other income, lower finance costs and a decline in Zakat and income tax provisions, despite decreased sales value and volumes.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	777.40	730.84	(6.0 %)
Gross Income	234.86	218.83	(6.8 %)
Operating Income	161.70	153.78	(4.9 %)
Net Income	138.21	145.89	5.6 %
Average Shares	100.00	100.00	-
EPS (Riyals)	1.38	1.46	5.6 %

Q3 2022 net profit after Zakat and tax amounted to SAR 59 million, up by 56% from SAR 37.73 million, due to higher average selling prices for the parent company, increased sales volumes and value for the Jordan subsidiary, lower selling and distribution expenses, and higher profit share from associate companies.

On a sequential basis, Q3 net profit increased 31% from SAR 45.03 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	222.92	240.57	7.9 %
Gross Income	67.76	81.78	20.7 %
Operating Income	45.74	63.79	39.4 %
Net Income	37.73	58.95	56.3 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.38	0.59	56.3 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	231.01	240.57	4.1 %
Gross Income	67.93	81.78	20.4 %
Operating Income	45.59	63.79	39.9 %
Net Income	45.03	58.95	30.9 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.45	0.59	30.9 %

Total shareholders’ equity, after minority interest, reached SAR 2.602 billion as of Sept. 30, 2022, compared to SAR 2.740 billion in the year-earlier 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.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

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

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.

×