Qassim Cement’ net profit rises 56% to SAR 196.6 mln in H1 2020

10/08/2020 Argaam Exclusive

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Qassim Cement Co. reported a net profit after Zakat and tax of SAR 196.6 million for the first half of 2020, a 56% rise year-on-year (YoY), driven by higher sales volumes and improved selling prices, despite increased general and administrative expenses (G&As).

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	307.93	429.18	39.4 %
Gross Income	140.44	243.73	73.5 %
Operating Income	125.59	211.58	68.5 %
Net Income	124.44	196.64	58.0 %
Average Shares	90.00	90.00	-
EPS (Riyals)	1.38	2.18	58.0 %

The second quarter’s net profit after Zakat and tax rose 21% YoY to SAR 85.5 million, backed by higher sales, increased selling prices and higher other income.

When compared to the previous quarter, net profit fell by 23%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	154.53	167.44	8.4 %
Gross Income	75.62	90.89	20.2 %
Operating Income	68.45	82.36	20.3 %
Net Income	68.17	85.47	25.4 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.76	0.95	25.4 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	261.75	167.44	(36.0 %)
Gross Income	152.84	90.89	(40.5 %)
Operating Income	129.22	82.36	(36.3 %)
Net Income	111.17	85.47	(23.1 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	1.24	0.95	(23.1 %)

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