Financial Results : Tabuk Cement’s net profit slumps 76% to SAR 7.1 mln in Q1 2021

Tabuk Cement’s net profit slumps 76% to SAR 7.1 mln in Q1 2021

03/05/2021 Argaam Exclusive

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Tabuk Cement Co. reported a net profit after Zakat and tax of SAR 7.1 million in Q1 2021, down 76% from SAR 28.9 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 75.42 76.96 2.0 %
Gross Income 17.53 20.95 19.6 %
Operating Income 11.55 14.08 21.8 %
Net Income 28.91 10.06 (65.2 %)
Average Shares 90.00 90.00 -
EPS (Riyals) 0.32 0.11 (65.2 %)

The decline was attributed to cash flow adjustment gains of a financial liability (loan) and amortization of the cash flow adjustment gains of the loan.

 

In addition, the company also noted an increase in selling, marketing, general and administrative expenses.

When compared to the previous quarter, the firm’s net profit after Zakat and tax fell 44.3% in Q1 2021.

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