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

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 %

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. 

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.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
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.