Financial Results : Qassim Cement Q1 2022 net profit dips 75% to SAR 25.1 mln

Qassim Cement Q1 2022 net profit dips 75% to SAR 25.1 mln

27/04/2022 Argaam Exclusive

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Qassim Cement Co.  reported a slump of 75% in Q1 2022 net profit to SAR 25.1 million, compared to SAR 100.9 million in the year-earlier period, due to an increase in general and administrative expenses and decrease in other income, despite better sales value.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 223.35 142.49 (36.2 %)
Gross Income 112.40 27.37 (75.6 %)
Operating Income 103.99 18.86 (81.9 %)
Net Income 100.87 25.08 (75.1 %)
Average Shares 90.00 90.00 -
EPS (Riyals) 1.12 0.28 (75.1 %)

On a sequential basis, net profit fell by 25.9% from SAR 33.83 million.

 

Shareholders' equity, after minority interest, declined by 5.2% to SAR 1.706 billion in Q1 2022, compared to SAR 1.801 billion in the prior-year period.

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