Southern Cement’s FY17 profit drops 58% on low demand

13/03/2018 Argaam Exclusive

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Southern Province Cement Co. reported a net profit of SAR 372 million for the fiscal year 2017, a fall of 57.5 percent year-on-year (YoY), due to weak demand and lower selling prices amid fierce competition.

Financials (M)

Item	2016	2017	Change‬
Revenues	1,776.06	1,063.82	(40.1 %)
Gross Income	930.70	423.70	(54.5 %)
Operating Income	871.06	373.22	(57.2 %)
Net Income	877.51	370.22	(57.8 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	6.27	2.64	(57.8 %)

The fourth-quarter net profit also dropped 23.8 percent YoY to SAR 115 million, hurt by weak demand and increased competition.

When compared to the previous quarter, the cement producer’s net profit more than doubled, thanks to higher sales volumes and value along with a decline in the cost of sales.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2016	Q4 2017	Change‬
Revenues	354.32	302.08	(14.7 %)
Gross Income	177.55	136.59	(23.1 %)
Operating Income	152.62	122.12	(20.0 %)
Net Income	152.77	113.56	(25.7 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	1.09	0.81	(25.7 %)

Item	Q3 2017	Q4 2017	Change‬
Revenues	215.60	302.08	40.1 %
Gross Income	65.02	136.59	110.1 %
Operating Income	56.80	122.12	115.0 %
Net Income	57.16	113.56	98.7 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.41	0.81	98.7 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2008	376.54	38.3 %	242.78	47.6 %	236.11	51.8 %
Q2 2008	376.55	24.1 %	227.67	19.3 %	219.21	19.1 %
Q3 2008	288.56	(7.2 %)	163.16	(20.8 %)	154.45	(23.1 %)
Q4 2008	256.26	(4.5 %)	123.10	(23.2 %)	111.16	(26.3 %)
2008	1,297.90	12.4 %	756.71	4.9 %	720.93	4.3 %
Q1 2009	362.12	(3.8 %)	213.85	(11.9 %)	204.33	(13.5 %)
Q2 2009	361.61	(4.0 %)	215.32	(5.4 %)	207.45	(5.4 %)
Q3 2009	289.73	0.4 %	155.02	(5.0 %)	146.33	(5.3 %)
Q4 2009	304.92	19.0 %	182.92	48.6 %	174.67	57.1 %
2009	1,318.36	1.6 %	767.12	1.4 %	732.78	1.6 %
Q1 2010	353.22	(2.5 %)	205.63	(3.8 %)	193.97	(5.1 %)
Q2 2010	358.99	(0.7 %)	191.61	(11.0 %)	183.06	(11.8 %)
Q3 2010	276.99	(4.4 %)	132.67	(14.4 %)	123.74	(15.4 %)
Q4 2010	319.92	4.9 %	179.63	(1.8 %)	170.60	(2.3 %)
2010	1,309.12	(0.7 %)	709.54	(7.5 %)	671.38	(8.4 %)
Q1 2011	436.85	23.7 %	241.21	17.3 %	229.72	18.4 %
Q2 2011	444.37	23.8 %	251.72	31.4 %	239.32	30.7 %
Q3 2011	355.11	28.2 %	197.22	48.6 %	184.88	49.4 %
Q4 2011	454.74	42.1 %	266.85	48.6 %	254.38	49.1 %
2011	1,691.07	29.2 %	957.00	34.9 %	908.30	35.3 %
Q1 2012	497.81	14.0 %	300.74	24.7 %	288.08	25.4 %
Q2 2012	474.15	6.7 %	269.36	7.0 %	261.23	9.2 %
Q3 2012	354.18	(0.3 %)	205.74	4.3 %	197.32	6.7 %
Q4 2012	479.13	5.4 %	275.07	3.1 %	261.33	2.7 %
2012	1,805.27	6.8 %	1,050.91	9.8 %	1,007.95	11.0 %
Q1 2013	486.72	(2.2 %)	283.22	(5.8 %)	272.86	(5.3 %)
Q2 2013	508.93	7.3 %	308.04	14.4 %	295.22	13.0 %
Q3 2013	368.15	3.9 %	200.86	(2.4 %)	188.27	(4.6 %)
Q4 2013	411.34	(14.1 %)	220.73	(19.8 %)	216.98	(17.0 %)
2013	1,775.14	(1.7 %)	1,012.85	(3.6 %)	973.33	(3.4 %)
Q1 2014	495.41	1.8 %	239.68	(15.4 %)	225.44	(17.4 %)
Q2 2014	516.76	1.5 %	304.39	(1.2 %)	296.01	0.3 %
Q3 2014	377.67	2.6 %	186.58	(7.1 %)	175.11	(7.0 %)
Q4 2014	488.51	18.8 %	264.49	19.8 %	251.88	16.1 %
2014	1,878.35	5.8 %	995.14	(1.7 %)	948.44	(2.6 %)
Q1 2015	558.97	12.8 %	290.50	21.2 %	271.23	20.3 %
Q2 2015	531.85	2.9 %	281.81	(7.4 %)	271.54	(8.3 %)
Q3 2015	418.90	10.9 %	215.84	15.7 %	205.10	17.1 %
Q4 2015	537.56	10.0 %	321.20	21.4 %	311.47	23.7 %
2015	2,047.27	9.0 %	1,109.36	11.5 %	1,059.33	11.7 %
Q1 2016	549.33	(1.7 %)	302.56	4.2 %	287.23	5.9 %
Q2 2016	492.64	(7.4 %)	266.67	(5.4 %)	256.18	(5.7 %)
Q3 2016	379.76	(9.3 %)	183.92	(14.8 %)	175.02	(14.7 %)
Q4 2016	354.32	(34.1 %)	177.55	(44.7 %)	152.62	(51.0 %)
2016	1,776.06	(13.2 %)	930.70	(16.1 %)	871.06	(17.8 %)
Q1 2017	303.39	(44.8 %)	122.13	(59.6 %)	105.36	(63.3 %)
Q2 2017	242.75	(50.7 %)	99.96	(62.5 %)	87.78	(65.7 %)
Q3 2017	215.60	(43.2 %)	65.02	(64.6 %)	56.80	(67.5 %)
Q4 2017	302.08	(14.7 %)	136.59	(23.1 %)	122.12	(20.0 %)
2017	1,063.82	(40.1 %)	423.70	(54.5 %)	373.22	(57.2 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2008	1,297.90	12.4 %	756.71	4.9 %	720.93	4.3 %
2009	1,318.36	1.6 %	767.12	1.4 %	732.78	1.6 %
2010	1,309.12	(0.7 %)	709.54	(7.5 %)	671.38	(8.4 %)
2011	1,691.07	29.2 %	957.00	34.9 %	908.30	35.3 %
2012	1,805.27	6.8 %	1,050.91	9.8 %	1,007.95	11.0 %
2013	1,775.14	(1.7 %)	1,012.85	(3.6 %)	973.33	(3.4 %)
2014	1,878.35	5.8 %	995.14	(1.7 %)	948.44	(2.6 %)
2015	2,047.27	9.0 %	1,109.36	11.5 %	1,059.33	11.7 %
2016	1,776.06	(13.2 %)	930.70	(16.1 %)	871.06	(17.8 %)
2017	1,063.82	(40.1 %)	423.70	(54.5 %)	373.22	(57.2 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2008	234.64	47.7 %	1.68	-	234.64	1.68
Q2 2008	230.49	19.7 %	1.65	-	230.49	1.65
Q3 2008	149.40	(24.4 %)	1.07	-	149.40	1.07
Q4 2008	176.54	14.0 %	1.26	-	176.54	1.26
2008	791.07	12.4 %	5.65	-	791.07	5.65
Q1 2009	200.17	(14.7 %)	1.43	-	200.17	1.43
Q2 2009	212.15	(8.0 %)	1.52	-	212.15	1.52
Q3 2009	140.56	(5.9 %)	1.00	-	140.56	1.00
Q4 2009	180.71	2.4 %	1.29	-	180.71	1.29
2009	733.59	(7.3 %)	5.24	-	733.59	5.24
Q1 2010	189.63	(5.3 %)	1.35	-	189.63	1.35
Q2 2010	185.18	(12.7 %)	1.32	-	185.18	1.32
Q3 2010	118.90	(15.4 %)	0.85	-	118.90	0.85
Q4 2010	164.80	(8.8 %)	1.18	-	164.80	1.18
2010	658.51	(10.2 %)	4.70	-	658.51	4.70
Q1 2011	225.88	19.1 %	1.61	-	225.88	1.61
Q2 2011	239.08	29.1 %	1.71	-	239.08	1.71
Q3 2011	179.78	51.2 %	1.28	-	179.78	1.28
Q4 2011	251.00	52.3 %	1.79	-	251.00	1.79
2011	895.74	36.0 %	6.40	-	895.74	6.40
Q1 2012	284.33	25.9 %	2.03	-	284.33	2.03
Q2 2012	261.73	9.5 %	1.87	-	261.73	1.87
Q3 2012	200.39	11.5 %	1.43	-	200.39	1.43
Q4 2012	253.76	1.1 %	1.81	-	253.76	1.81
2012	1,000.21	11.7 %	7.14	-	1,000.21	7.14
Q1 2013	268.75	(5.5 %)	1.92	-	268.75	1.92
Q2 2013	297.21	13.6 %	2.12	-	297.21	2.12
Q3 2013	186.61	(6.9 %)	1.33	-	186.61	1.33
Q4 2013	253.52	(0.1 %)	1.81	40.70	212.82	1.52
2013	1,006.09	0.6 %	7.19	40.70	965.39	6.90
Q1 2014	221.01	(17.8 %)	1.58	-	221.01	1.58
Q2 2014	294.20	(1.0 %)	2.10	-	294.20	2.10
Q3 2014	284.92	52.7 %	2.04	112.50	172.42	1.23
Q4 2014	245.30	(3.2 %)	1.75	-	245.30	1.75
2014	1,045.42	3.9 %	7.47	112.50	932.92	6.66
Q1 2015	266.00	20.4 %	1.90	-	266.00	1.90
Q2 2015	270.35	(8.1 %)	1.93	-	270.35	1.93
Q3 2015	202.21	(29.0 %)	1.44	-	202.21	1.44
Q4 2015	300.05	22.3 %	2.14	(6.30)	306.35	2.19
2015	1,038.61	(0.7 %)	7.42	(6.30)	1,044.91	7.46
Q1 2016	283.20	6.5 %	2.02	-	283.20	2.02
Q2 2016	267.98	(0.9 %)	1.91	-	267.98	1.91
Q3 2016	173.56	(14.2 %)	1.24	-	173.56	1.24
Q4 2016	152.77	(49.1 %)	1.09	-	152.77	1.09
2016	877.51	(15.5 %)	6.27	-	877.51	6.27
Q1 2017	104.57	(63.1 %)	0.75	-	104.57	0.75
Q2 2017	94.94	(64.6 %)	0.68	-	94.94	0.68
Q3 2017	57.16	(67.1 %)	0.41	-	57.16	0.41
Q4 2017	113.56	(25.7 %)	0.81	-	113.56	0.81
2017	370.22	(57.8 %)	2.64	-	370.22	2.64

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2008	791.07	12.4 %	5.65	-	791.07	5.65
2009	733.59	(7.3 %)	5.24	-	733.59	5.24
2010	658.51	(10.2 %)	4.70	-	658.51	4.70
2011	895.74	36.0 %	6.40	-	895.74	6.40
2012	1,000.21	11.7 %	7.14	-	1,000.21	7.14
2013	1,006.09	0.6 %	7.19	40.70	965.39	6.90
2014	1,045.42	3.9 %	7.47	112.50	932.92	6.66
2015	1,038.61	(0.7 %)	7.42	(6.30)	1,044.91	7.46
2016	877.51	(15.5 %)	6.27	-	877.51	6.27
2017	370.22	(57.8 %)	2.64	-	370.22	2.64

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	63.52 %	69.96 %	61.91 %
Q2 2008	62.80 %	69.76 %	61.36 %
Q3 2008	60.60 %	68.19 %	58.73 %
Q4 2008	58.30 %	66.56 %	60.95 %
2008	58.30 %	66.56 %	60.95 %
Q1 2009	56.70 %	63.26 %	58.95 %
Q2 2009	56.40 %	63.11 %	58.20 %
Q3 2009	55.71 %	62.71 %	57.45 %
Q4 2009	58.19 %	65.18 %	55.64 %
2009	58.19 %	65.18 %	55.64 %
Q1 2010	57.95 %	64.98 %	55.22 %
Q2 2010	56.26 %	63.50 %	53.26 %
Q3 2010	55.08 %	62.54 %	52.11 %
Q4 2010	54.20 %	61.48 %	50.30 %
2010	54.20 %	61.48 %	50.30 %
Q1 2011	53.50 %	60.47 %	49.88 %
Q2 2011	54.48 %	60.78 %	50.65 %
Q3 2011	55.89 %	61.76 %	52.02 %
Q4 2011	56.59 %	61.87 %	52.97 %
2011	56.59 %	61.87 %	52.97 %
Q1 2012	58.02 %	63.18 %	54.46 %
Q2 2012	58.04 %	63.75 %	54.82 %
Q3 2012	58.55 %	64.52 %	56.01 %
Q4 2012	58.21 %	63.56 %	55.40 %
2012	58.21 %	63.56 %	55.40 %
Q1 2013	57.60 %	63.07 %	54.88 %
Q2 2013	58.62 %	63.43 %	55.78 %
Q3 2013	57.91 %	63.39 %	54.60 %
Q4 2013	57.06 %	62.96 %	54.38 %
2013	57.06 %	62.96 %	54.38 %
Q1 2014	54.34 %	60.22 %	51.44 %
Q2 2014	53.90 %	60.32 %	51.05 %
Q3 2014	52.82 %	58.65 %	49.99 %
Q4 2014	52.98 %	59.17 %	49.67 %
2014	52.98 %	59.17 %	49.67 %
Q1 2015	53.86 %	59.73 %	50.36 %
Q2 2015	52.29 %	58.10 %	48.75 %
Q3 2015	52.68 %	58.47 %	49.24 %
Q4 2015	54.19 %	60.01 %	51.04 %
2015	54.19 %	60.01 %	51.04 %
Q1 2016	55.04 %	60.98 %	52.12 %
Q2 2016	55.36 %	61.33 %	53.03 %
Q3 2016	54.83 %	62.04 %	52.63 %
Q4 2016	52.40 %	60.56 %	49.41 %
2016	52.40 %	60.56 %	49.41 %
Q1 2017	49.03 %	58.65 %	45.67 %
Q2 2017	45.58 %	57.62 %	41.07 %
Q3 2017	41.63 %	54.16 %	36.69 %
Q4 2017	39.83 %	52.53 %	34.80 %
2017	39.83 %	52.64 %	34.80 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	58.30 %	66.56 %	60.95 %
2009	58.19 %	65.18 %	55.64 %
2010	54.20 %	61.48 %	50.30 %
2011	56.59 %	61.87 %	52.97 %
2012	58.21 %	63.56 %	55.40 %
2013	57.06 %	62.96 %	54.38 %
2014	52.98 %	59.17 %	49.67 %
2015	54.19 %	60.01 %	51.04 %
2016	52.40 %	60.56 %	49.41 %
2017	39.83 %	52.64 %	34.80 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2008	64.48 %	76.11 %	62.31 %
Q2 2008	60.46 %	66.18 %	61.21 %
Q3 2008	56.55 %	62.89 %	51.78 %
Q4 2008	48.04 %	57.21 %	68.89 %
Q1 2009	59.05 %	64.78 %	55.28 %
Q2 2009	59.55 %	65.81 %	58.67 %
Q3 2009	53.51 %	61.13 %	48.52 %
Q4 2009	59.99 %	68.77 %	59.27 %
Q1 2010	58.21 %	64.02 %	53.69 %
Q2 2010	53.37 %	60.41 %	51.58 %
Q3 2010	47.90 %	56.57 %	42.93 %
Q4 2010	56.15 %	64.14 %	51.51 %
Q1 2011	55.22 %	60.31 %	51.71 %
Q2 2011	56.65 %	61.45 %	53.80 %
Q3 2011	55.54 %	61.78 %	50.63 %
Q4 2011	58.68 %	63.85 %	55.20 %
Q1 2012	60.41 %	65.10 %	57.12 %
Q2 2012	56.81 %	63.71 %	55.20 %
Q3 2012	58.09 %	65.64 %	56.58 %
Q4 2012	57.41 %	60.28 %	52.96 %
Q1 2013	58.19 %	63.34 %	55.22 %
Q2 2013	60.53 %	64.95 %	58.40 %
Q3 2013	54.56 %	65.33 %	50.69 %
Q4 2013	53.66 %	57.93 %	51.74 %
Q1 2014	48.38 %	53.47 %	44.61 %
Q2 2014	58.90 %	65.22 %	56.93 %
Q3 2014	49.40 %	57.22 %	45.65 %
Q4 2014	54.14 %	60.06 %	50.21 %
Q1 2015	51.97 %	56.06 %	47.59 %
Q2 2015	52.99 %	59.07 %	50.83 %
Q3 2015	51.53 %	59.05 %	48.27 %
Q4 2015	59.75 %	65.78 %	56.99 %
Q1 2016	55.08 %	59.61 %	51.55 %
Q2 2016	54.13 %	60.34 %	54.40 %
Q3 2016	48.43 %	62.45 %	45.70 %
Q4 2016	50.11 %	60.33 %	43.12 %
Q1 2017	40.26 %	49.20 %	34.47 %
Q2 2017	41.18 %	56.66 %	39.11 %
Q3 2017	30.16 %	48.18 %	26.51 %
Q4 2017	45.22 %	55.66 %	37.59 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2008	140.00	5.57	5.57	15.92
Q2 2008	140.00	5.84	5.84	17.57
Q3 2008	140.00	5.50	5.50	15.64
Q4 2008	140.00	5.65	5.65	16.85
Q1 2009	140.00	5.40	5.40	16.28
Q2 2009	140.00	5.27	5.27	17.80
Q3 2009	140.00	5.21	5.21	16.30
Q4 2009	140.00	5.24	5.24	17.58
Q1 2010	140.00	5.16	5.16	16.44
Q2 2010	140.00	4.97	4.97	17.76
Q3 2010	140.00	4.82	4.82	16.61
Q4 2010	140.00	4.70	4.70	17.77
Q1 2011	140.00	4.96	4.96	16.88
Q2 2011	140.00	5.35	5.35	18.59
Q3 2011	140.00	5.78	5.78	17.13
Q4 2011	140.00	6.40	6.40	18.91
Q1 2012	140.00	6.82	6.82	17.44
Q2 2012	140.00	6.98	6.98	19.31
Q3 2012	140.00	7.12	7.12	17.74
Q4 2012	140.00	7.14	7.14	19.55
Q1 2013	140.00	7.03	7.03	17.47
Q2 2013	140.00	7.29	7.29	19.60
Q3 2013	140.00	7.19	7.19	17.93
Q4 2013	140.00	7.19	6.90	19.73
Q1 2014	140.00	6.85	6.55	17.31
Q2 2014	140.00	6.82	6.53	19.41
Q3 2014	140.00	7.53	6.43	19.45
Q4 2014	140.00	7.47	6.66	21.15
Q1 2015	140.00	7.79	6.99	20.05
Q2 2015	140.00	7.62	6.81	21.98
Q3 2015	140.00	7.03	7.03	20.93
Q4 2015	140.00	7.42	7.46	23.06
Q1 2016	140.00	7.54	7.59	21.52
Q2 2016	140.00	7.52	7.57	23.49
Q3 2016	140.00	7.32	7.36	22.23
Q4 2016	140.00	6.27	6.27	23.25
Q1 2017	140.00	4.99	4.99	24.00
Q2 2017	140.00	3.76	3.76	22.43
Q3 2017	140.00	2.92	2.92	21.84
Q4 2017	140.00	2.64	2.64	22.66

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	140.00	5.65	5.65	16.85
2009	140.00	5.24	5.24	17.58
2010	140.00	4.70	4.70	17.77
2011	140.00	6.40	6.40	18.91
2012	140.00	7.14	7.14	19.55
2013	140.00	7.19	6.90	19.73
2014	140.00	7.47	6.66	21.15
2015	140.00	7.42	7.46	23.06
2016	140.00	6.27	6.27	23.25
2017	140.00	2.64	2.64	22.66

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2008	13.11	13.11	4.58
Q2 2008	13.01	13.01	4.33
Q3 2008	12.10	12.10	4.25
Q4 2008	8.25	8.25	2.76
Q1 2009	10.69	10.69	3.55
Q2 2009	11.66	11.66	3.46
Q3 2009	12.38	12.38	3.96
Q4 2009	12.79	12.79	3.81
Q1 2010	13.65	13.65	4.29
Q2 2010	13.68	13.68	3.83
Q3 2010	13.91	13.91	4.03
Q4 2010	13.02	13.02	3.45
Q1 2011	12.24	12.24	3.60
Q2 2011	14.31	14.31	4.11
Q3 2011	12.67	12.67	4.28
Q4 2011	13.44	13.44	4.55
Q1 2012	13.50	13.50	5.27
Q2 2012	14.26	14.26	5.15
Q3 2012	13.86	13.86	5.57
Q4 2012	14.00	14.00	5.12
Q1 2013	14.29	14.29	5.75
Q2 2013	14.27	14.27	5.31
Q3 2013	14.85	14.85	5.95
Q4 2013	15.34	15.99	5.59
Q1 2014	16.32	17.05	6.46
Q2 2014	17.00	17.76	5.98
Q3 2014	15.11	17.68	5.85
Q4 2014	14.65	16.41	5.17
Q1 2015	12.21	13.62	4.74
Q2 2015	12.90	14.42	4.47
Q3 2015	11.03	11.03	3.70
Q4 2015	9.44	9.38	3.04
Q1 2016	9.68	9.62	3.39
Q2 2016	10.14	10.08	3.25
Q3 2016	8.71	8.66	2.87
Q4 2016	13.13	13.13	3.54
Q1 2017	12.56	12.56	2.61
Q2 2017	14.41	14.41	2.41
Q3 2017	17.08	17.08	2.29
Q4 2017	18.30	18.30	2.14

Period	P/E	Adjusted P/E	Price/book
2008	8.25	8.25	2.76
2009	12.79	12.79	3.81
2010	13.02	13.02	3.45
2011	13.44	13.44	4.55
2012	14.00	14.00	5.12
2013	15.34	15.99	5.59
2014	14.65	16.41	5.17
2015	9.44	9.38	3.04
2016	13.13	13.13	3.54
2017	18.30	18.30	2.14

Analysts Estimates (Million)

Item	Q4 2017 (e)	Q4 2017 (a)	Change‬
Average	69.09	113.56	64.35 %

Estimates vs Actual (Million)

Item	Q4 2017 (e)	Q4 2017 (a)	Change
Value Capital	78.80	113.56	44.1 %
Riyad Capital	72.00	113.56	57.7 %
SNB Capital	71.00	113.56	59.9 %
Sico	70.00	113.56	62.2 %
Alistithmar Capital	67.94	113.56	67.1 %
OSOOL AND BAKHEET	66.10	113.56	71.8 %
AlJazira Capital	65.90	113.56	72.3 %
Al Rajhi Capital	61.00	113.56	86.2 %

Financial Ratios

	Current
Market Cap (M Riyal)	5,124.00
Enterprise Value (EV) (M)	5,210.26
Shares Outstanding ((M))	140.00
EPS ( Riyal) (TTM)	1.49
Book Value (BV) ( Riyal)	23.92
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	26.73
P/E (TTM)	24.56
Price/book	1.53
Return on Average Assets (%) (TTM)	5.1
Return on Average Equity (%) (TTM)	6.3

Southern Province Cement Co. (SPCC)

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Southern Cement’s FY17 profit drops 58% on low demand

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Southern Province Cement Co. (SPCC)

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