Southern Cement net profit rises 32% to SAR 609 mln in 2020

04/03/2021 Argaam Exclusive

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Southern Province Cement Co. reported a net profit after Zakat and tax of SAR 609 million in 2020, up 32% from SAR 463 million in 2019.

The increase in net profit was attributed to higher sales revenue and sales volume, and lower financing costs. In addition, the company noted an increase in other miscellaneous revenues.

Financials (M)

Item	2019	2020	Change‬
Revenues	1,300.29	1,653.11	27.1 %
Gross Income	555.82	714.85	28.6 %
Operating Income	501.55	664.42	32.5 %
Net Income	462.71	609.38	31.7 %
Average Shares	140.00	140.00	-
EPS (Riyals)	3.31	4.35	31.7 %

The Q4 2020 net profit after Zakat and tax declined 13% year-on-year (YoY) to SAR 140.9 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	396.67	430.79	8.6 %
Gross Income	191.26	199.43	4.3 %
Operating Income	175.84	186.29	5.9 %
Net Income	161.78	141.25	(12.7 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	1.16	1.01	(12.7 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	425.77	430.79	1.2 %
Gross Income	170.36	199.43	17.1 %
Operating Income	159.57	186.29	16.7 %
Net Income	149.77	141.25	(5.7 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	1.07	1.01	(5.7 %)

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