Eastern Cement 9M 2023 profit surges 55% to SAR 147.8 mln; Q3 at SAR 40.9 mln

08/11/2023 Argaam Exclusive

View other reports

Eastern Province Cement Co. reported a net profit of SAR 147.8 million for the first nine months of 2023, an increase of 55% from SAR 95.3 million in the year-earlier period.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	530.54	695.62	31.1 %
Gross Income	164.54	220.29	33.9 %
Operating Income	113.22	170.50	50.6 %
Net Income	95.32	147.79	55.0 %
Average Shares	86.00	86.00	-
EPS (Riyals)	1.11	1.72	55.0 %

The profit increase was spurred by increased cement and precast sales, higher dividends and Murabaha income.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	173.99	242.91	39.6 %
Gross Income	51.24	61.66	20.3 %
Operating Income	34.53	44.25	28.1 %
Net Income	19.84	40.89	106.1 %
Average Shares	86.00	86.00	-
EPS (Riyals)	0.23	0.48	106.1 %

Item	Q2 2023	Q3 2023	Change‬
Revenues	216.07	242.91	12.4 %
Gross Income	80.14	61.66	(23.1 %)
Operating Income	63.12	44.25	(29.9 %)
Net Income	51.33	40.89	(20.3 %)
Average Shares	86.00	86.00	-
EPS (Riyals)	0.60	0.48	(20.3 %)

Q3 2023 net earnings increased by nearly two-fold year-on-year (YoY) to SAR 40.9 million, on an increase in the cement and precast sales, higher dividends and Murabaha income.

On a quarterly basis, net profit decreased 20.3% from SAR 51.33 million.

Total shareholders’ equity, after minority interest, stood at SAR 2.35 billion as of Sept. 30, 2023, compared to SAR 2.32 billion a year earlier.

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.

×