Eastern Province Cement Co. reported a 39% profit rise year-on-year (YoY) to SAR 158 million for the first nine months of 2020, driven by higher sales volumes, lower general and administrative expenses (G&As) and increased profit share from the company’s associate.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 513.80 | 539.40 | 5.0 % |
| Gross Income | 148.01 | 188.76 | 27.5 % |
| Operating Income | 102.08 | 149.79 | 46.7 % |
| Net Income | 114.20 | 158.33 | 38.6 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 1.33 | 1.84 | 38.6 % |
The third-quarter net profit after Zakat and tax increased by 19% YoY to SAR 43 million, due to lower cost of sales, decreased G&As and higher investment income.
On a sequential basis, net profit jumped by 43.3%.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 173.84 | 159.10 | (8.5 %) |
| Gross Income | 50.72 | 48.69 | (4.0 %) |
| Operating Income | 37.35 | 40.45 | 8.3 % |
| Net Income | 36.45 | 42.63 | 17.0 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 0.42 | 0.50 | 17.0 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 146.27 | 159.10 | 8.8 % |
| Gross Income | 46.41 | 48.69 | 4.9 % |
| Operating Income | 31.30 | 40.45 | 29.3 % |
| Net Income | 30.47 | 42.63 | 39.9 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 0.35 | 0.50 | 39.9 % |
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