Southern Cement’s 9M 2024 profit grows 20% to SAR 145M; Q3 at SAR 53M

07/11/2024 Argaam Exclusive

View other reports

Southern Province Cement Co. reported a 20% profit rise to SAR 145 million in 9M 2024, from SAR 121 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	812.00	698.00	(14.0 %)
Gross Income	188.00	219.00	16.5 %
Operating Income	135.00	151.00	11.9 %
Net Income	121.00	145.00	19.8 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.86	1.04	19.8 %

The 9M 2024 net earnings were lifted by higher average selling prices and other revenues, lower cost of goods sold, and a decline in selling and distribution expenses.

On the other hand, sales dropped due to weak sales volumes.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	286.00	233.00	(18.5 %)
Gross Income	81.00	72.00	(11.1 %)
Operating Income	58.00	49.00	(15.5 %)
Net Income	53.00	53.00	-
Average Shares	140.00	140.00	-
EPS (Riyals)	0.38	0.38	-

Item	Q2 2024	Q3 2024	Change‬
Revenues	214.32	233.00	8.7 %
Gross Income	54.55	72.00	32.0 %
Operating Income	33.20	49.00	47.6 %
Net Income	30.00	53.00	76.7 %
Average Shares	140.00	140.00	-
EPS (Riyals)	0.21	0.38	76.7 %

The company’s year-on-year (YoY) net profit for Q3 2024 remained stable at SAR 53 million.

Sequentially, net profit climbed 76.7% from SAR 30 million in Q2 2024.

Shareholders’ equity, no minority interest, rose to SAR 3.27 billion as of Sept. 30, 2024, compared to SAR 3.20 billion a year earlier.

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.

×