Yanbu Cement reports more than two-fold profit rise in FY 2019

05/03/2020 Argaam Exclusive

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Yanbu Cement Co. reported a net profit after Zakat and tax of SAR 257.8 million for the fiscal year of 2019, a more-than-double increase from year-earlier period, the company said in a bourse statement.

The profit hike was driven by higher sales revenue and increased selling prices, despite higher general and administrative expenses (G&As) and Zakat expense.

Financials (M)

Item	2018	2019	Change‬
Revenues	767.13	975.74	27.2 %
Gross Income	142.86	334.80	134.4 %
Operating Income	94.88	281.09	196.2 %
Net Income	91.19	257.82	182.7 %
Average Shares	157.50	157.50	-
EPS (Riyals)	0.58	1.64	182.7 %

On a sequential basis, Q4 2019 net profit increased by 142% to SAR 83 million, from SAR 33 million in a year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	201.43	278.39	38.2 %
Gross Income	57.34	103.49	80.5 %
Operating Income	44.74	93.76	109.6 %
Net Income	34.24	82.93	142.2 %
Average Shares	157.50	157.50	-
EPS (Riyals)	0.22	0.53	142.2 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	227.97	278.39	22.1 %
Gross Income	75.48	103.49	37.1 %
Operating Income	65.71	93.76	42.7 %
Net Income	61.94	82.93	33.9 %
Average Shares	157.50	157.50	-
EPS (Riyals)	0.39	0.53	33.9 %

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