Southern Cement 9M 2021 net profit down 25% to SAR 353.4 mln

02/11/2021 Argaam Exclusive

View other reports

Southern Province Cement Co. (SPCC) reported a net profit after Zakat and tax of SAR 353.4 million in the first nine months of 2021, a drop of 25% from SAR 468.1 million a year earlier.

The lower profit was attributed to a decline in revenue amid subdued demand and a drop in other revenue, along with higher general and administrative expenses.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	1,222.32	1,010.89	(17.3 %)
Gross Income	515.42	386.01	(25.1 %)
Operating Income	478.14	348.50	(27.1 %)
Net Income	468.13	331.24	(29.2 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	3.34	2.37	(29.2 %)

In Q3 2021, net profit after Zakat and tax fell 44% year-on-year (YoY) to SAR 83.4 million, hit by lower revenue and demand.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	425.77	284.22	(33.2 %)
Gross Income	170.36	98.58	(42.1 %)
Operating Income	159.57	86.63	(45.7 %)
Net Income	149.77	74.12	(50.5 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	1.07	0.53	(50.5 %)

Item	Q2 2021	Q3 2021	Change‬
Revenues	287.33	284.22	(1.1 %)
Gross Income	103.27	98.58	(4.5 %)
Operating Income	90.79	86.63	(4.6 %)
Net Income	87.47	74.12	(15.3 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	0.62	0.53	(15.3 %)

On a sequential basis, the third-quarter net earnings dropped 12.3% from SAR 95.17 million.

Shareholders’ equity decreased by 1.1% to SAR 3.108 billion in the nine-month period, from SAR 3.145 billion in the corresponding period of 2020.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×