Financial Results : Southern Cement 2022 profit down 28% to SAR 300 mln; Q4 at SAR 62.3 mln

Southern Cement 2022 profit down 28% to SAR 300 mln; Q4 at SAR 62.3 mln

28/03/2023 Argaam Exclusive

View other reports

Southern Province Cement Co. reported a 28% drop in 2022 net profit to SAR 300 million, from SAR 419 million in 2021.



Financials (M)

Item 2021 2022 Change‬
Revenues 1,339.35 1,222.41 (8.7 %)
Gross Income 505.41 361.06 (28.6 %)
Operating Income 453.22 297.96 (34.3 %)
Net Income 429.15 300.71 (29.9 %)
Average Shares 140.00 140.00 -
EPS (Riyals) 3.07 2.15 (29.9 %)

The company cited lower sales revenues on a drop in local sales and selling prices. It also reported higher operating expenses.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 328.46 335.17 2.0 %
Gross Income 119.40 92.85 (22.2 %)
Operating Income 104.72 71.42 (31.8 %)
Net Income 97.91 62.30 (36.4 %)
Average Shares 140.00 140.00 -
EPS (Riyals) 0.70 0.45 (36.4 %)

In Q4 2022, net profit fell 29% to SAR 62.3 million, from SAR 87.9 million in the prior-year period.

 

Compared to the previous quarter, Q4 net profit declined by 29.4% from SAR 88.62 million.

 

Total shareholders’ equity, after minority interest, rose to SAR 3.20 billion as of Dec. 31, 2022, from SAR 3.18 billion a year earlier.

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.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
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.