Financial Results : Qassim Cement’s net profit surges 99% in Q1 2020

Qassim Cement’s net profit surges 99% in Q1 2020

30/04/2020 Argaam Exclusive

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Qassim Cement Co. reported a net profit after Zakat and tax of SAR 111.2 million for the first quarter of 2020, a rise of 99% year-on-year (YoY), thanks to higher sales volumes and average selling prices.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 153.40 261.75 70.6 %
Gross Income 64.82 152.84 135.8 %
Operating Income 57.14 129.22 126.2 %
Net Income 56.27 111.17 97.6 %
Average Shares 90.00 90.00 -
EPS (Riyals) 0.63 1.24 97.6 %

When compared to Q4 2019, net profit after Zakat and tax dropped 22.8% hit by a decline in sales value, reversal of sales allowances at the end of 2019 and impairment of long-term financial investments.

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