Eastern Province Cement Co. reported a net profit after Zakat and tax of SAR 122 million for H1 2021, a rise of 5% from SAR 116 million in the year-ago period.
The company attributed the rise in profit to higher sales value and quantity of cement and precast, along with higher income from investments and other income, in addition to lower selling expenses.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 380.30 | 429.10 | 12.8 % |
| Gross Income | 140.07 | 154.08 | 10.0 % |
| Operating Income | 109.34 | 122.69 | 12.2 % |
| Net Income | 115.71 | 121.74 | 5.2 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 1.35 | 1.42 | 5.2 % |
In Q2 2021, the cement producer’s net profit after Zakat and tax increased more than twofold year-on-year (YoY) to SAR 62 million.
When compared to Q1 2021, net profit rose 3.3% on lower cost of sales.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 146.27 | 212.40 | 45.2 % |
| Gross Income | 46.41 | 80.58 | 73.6 % |
| Operating Income | 31.30 | 64.04 | 104.6 % |
| Net Income | 30.47 | 61.86 | 103.0 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 0.35 | 0.72 | 103.0 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 216.69 | 212.40 | (2.0 %) |
| Gross Income | 73.50 | 80.58 | 9.6 % |
| Operating Income | 58.65 | 64.04 | 9.2 % |
| Net Income | 59.88 | 61.86 | 3.3 % |
| Average Shares | 86.00 | 86.00 | - |
| EPS (Riyals) | 0.70 | 0.72 | 3.3 % |
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