Southern Province Cement Co. reported a 35% profit rise to SAR 92 million in H1 2024, from SAR 68 million in the year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 526.00 | 465.00 | (11.6 %) |
| Gross Income | 107.00 | 147.00 | 37.4 % |
| Operating Income | 77.00 | 102.00 | 32.5 % |
| Net Income | 68.00 | 92.00 | 35.3 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.49 | 0.66 | 35.3 % |
The H1 2024 net earnings were lifted by higher average selling prices, lower cost of goods sold, and a decline in selling and distribution expenses.
On the other hand, revenue dropped 11.6% year-on-year (YoY) due to weak sales volumes.
The cement producer’s fell 51.6% from SAR 62 million in Q1 2024 due to lower revenue and sales volumes.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 226.00 | 214.00 | (5.3 %) |
| Gross Income | 37.00 | 55.00 | 48.6 % |
| Operating Income | 23.00 | 33.00 | 43.5 % |
| Net Income | 19.00 | 30.00 | 57.9 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.14 | 0.21 | 57.9 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 251.00 | 214.00 | (14.7 %) |
| Gross Income | 93.00 | 55.00 | (40.9 %) |
| Operating Income | 70.00 | 33.00 | (52.9 %) |
| Net Income | 62.00 | 30.00 | (51.6 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.44 | 0.21 | (51.6 %) |
Shareholders’ equity, no minority interest, rose to SAR 3.28 billion as of June 30, 2024, compared to SAR 3.20 billion a year earlier.
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAUDI ARAMCO | 104,019.94 | 106,158.00 | 2.1 % |
| SAUDI CEMENT | 90.58 | 87.30 | (3.6 %) |
| DAR ALARKAN | 173.60 | 165.12 | (4.9 %) |
| LUMI | 54.61 | 46.01 | (15.8 %) |
| SPCC | 45.14 | 30.00 | (33.5 %) |
| SAVOLA GROUP | 258.90 | 135.39 | (47.7 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| ALAMAR | 11.00 | 13.05 | 18.6 % |
| SAUDI ARAMCO | 104,019.94 | 106,158.00 | 2.1 % |
| JAMJOOM PHARMA | 106.61 | 106.95 | 0.3 % |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAVOLA GROUP | 258.90 | 135.39 | (47.7 %) |
| SPCC | 45.14 | 30.00 | (33.5 %) |
| A.OTHAIM MARKET | 58.76 | 43.28 | (26.3 %) |
| LUMI | 54.61 | 46.01 | (15.8 %) |
| YSCC | 98.89 | 84.62 | (14.4 %) |
| DAR ALARKAN | 173.60 | 165.12 | (4.9 %) |
| SAUDI CEMENT | 90.58 | 87.30 | (3.6 %) |
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