Financial Results : Saudi Ceramics reports 6% net profit growth to SAR 15.6M in Q1 2024

Saudi Ceramics reports 6% net profit growth to SAR 15.6M in Q1 2024

08/05/2024 Argaam Exclusive

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Saudi Ceramic Co. reported a net profit of SAR 15.6 million in Q1 2024, an increase of 6% from SAR 14.7 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 368.89 345.77 (6.3 %)
Gross Income 90.12 82.34 (8.6 %)
Operating Income 21.26 16.86 (20.7 %)
Net Income 14.71 15.57 5.8 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.15 0.16 5.8 %

This was propelled by a slump in selling, marketing, general, administrative, and Zakat expenses. There was also an increase in other revenues, which positively affected net profit despite the increase in financing costs and the decrease in sales.

 

On a quarterly basis, Saudi Ceramic turned to profit from SAR 89.79 million loss in Q4 2023.

 

Shareholders’ equity, after minority interest, reached SAR 1.5 billion by March 31, 2024, compared to SAR 1.72 billion in the prior-year period.

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