Tabuk Cement 9M 2022 net profit tumbles 81% to SAR 3.4 mln; Q3 at SAR 7.8 mln

01/11/2022 Argaam Exclusive

View other reports

Tabuk Cement Co. reported an 81% slump in net profit after Zakat and tax to SAR 3.4 million in the first nine months of 2022, from SAR 17.4 million a year earlier on higher cost of revenue.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	174.22	210.11	20.6 %
Gross Income	39.20	36.99	(5.6 %)
Operating Income	19.61	15.54	(20.8 %)
Net Income	17.42	3.36	(80.7 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	0.19	0.04	(80.7 %)

The cement producer attributed the profit decline mainly to higher cost of revenue as well as increase in general, administrative and marketing expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	48.00	73.68	53.5 %
Gross Income	8.79	18.89	115.0 %
Operating Income	2.55	11.24	340.0 %
Net Income	8.48	7.79	(8.1 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	0.09	0.09	(8.1 %)

Item	Q2 2022	Q3 2022	Change‬
Revenues	74.25	73.68	(0.8 %)
Gross Income	13.09	18.89	44.3 %
Operating Income	6.79	11.24	65.5 %
Net Income	2.49	7.79	213.0 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.03	0.09	213.0 %

In Q3 2022, net profit after Zakat and tax declined 8% year-on-year to SAR 7.8 million, from SAR 8.48 million on higher cost of revenue.

The company’s net profit after Zakat and tax more than tripled from SAR 2.49 million in Q2 2022.

Shareholders’ equity, excluding minority interest, dropped to SAR 1.248 billion as of Sept. 30, 2022, from SAR 1.266 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.

×