Financial Results : Yamama Cement’s profit up 2% to SAR 115M in Q1 2024

Yamama Cement’s profit up 2% to SAR 115M in Q1 2024

30/04/2024 Argaam Exclusive

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Yamama Cement Co. reported a net profit of SAR 115 million in Q1 2024, an increase of 2%, compared to SAR 112.4 million a year earlier. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 279.86 273.71 (2.2 %)
Gross Income 133.84 136.91 2.3 %
Operating Income 117.09 117.54 0.4 %
Net Income 112.40 115.03 2.3 %
Average Shares 202.50 202.50 -
EPS (Riyals) 0.56 0.57 2.3 %

The year-on-year profit increase in the first quarter was spurred by lower cost of sales and higher other revenue.

 

On the other hand, sales fell due to the month of Ramadan.

 

Compared to Q4 2023, net earnings surged 118% from SAR 52.76 million on higher other revenue.

 

Shareholders’ equity, no minority interest, stood at SAR 4.64 billion by March 31, 2024, compared to SAR 4.56 billion in a year-earlier period.

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