Saudi Cement Co. reported a net profit after Zakat and tax of SAR 119.4 million for the first quarter of 2021, a 20% decline, from a profit of SAR 148.5 million in Q1 2020.
The company attributed the decline in net profit to the decrease in sales and other income, as well as an increase in selling and distribution expenses, despite lower financial charges and higher profit share from associates.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 450.36 | 429.07 | (4.7 %) |
| Gross Income | 202.77 | 173.63 | (14.4 %) |
| Operating Income | 157.77 | 124.68 | (21.0 %) |
| Net Income | 148.51 | 119.42 | (19.6 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.97 | 0.78 | (19.6 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 435.01 | 429.07 | (1.4 %) |
| Gross Income | 176.75 | 173.63 | (1.8 %) |
| Operating Income | 124.38 | 124.68 | 0.2 % |
| Net Income | 124.12 | 119.42 | (3.8 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.81 | 0.78 | (3.8 %) |
When compared to previous quarter, net profit for Q1 2021 fell nearly 4% due to lower sales, lower other income and lower share in net results of associates.
Shareholders’ equity, excluding minority interest, declined 3.7% to SAR 2.771 billion by the end of Q1 2021, compared to SAR 2.878 billion in the year-ago period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}