National Gypsum Co. (NGC) reported a net profit after Zakat and tax of SAR 5.4 million for the first nine months of 2022, a slump of 77%, from SAR 23.5 million in the year-earlier period, on a 35.22% decline in net sales on lower volumes.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 68.97 | 44.68 | (35.2 %) |
| Gross Income | 32.47 | 13.36 | (58.9 %) |
| Operating Income | 25.36 | 2.14 | (91.5 %) |
| Net Income | 23.47 | 3.31 | (85.9 %) |
| Average Shares | 31.67 | 31.67 | 0.0 % |
| EPS (Riyals) | 0.74 | 0.10 | (85.9 %) |
Q3 2022 net profit tumbled 91% year-on-year (YoY) to SAR 540,000, from SAR 6.02 million in the year-earlier period, on a 43.65% decline in net sales due to lower demand.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 22.10 | 12.45 | (43.6 %) |
| Gross Income | 9.37 | 2.84 | (69.7 %) |
| Operating Income | 7.02 | (1.91) | (127.1 %) |
| Net Income | 6.02 | (1.57) | (126.1 %) |
| Average Shares | 31.67 | 31.67 | 0.0 % |
| EPS (Riyals) | 0.19 | (0.05) | (126.1 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 17.65 | 12.45 | (29.4 %) |
| Gross Income | 5.33 | 2.84 | (46.7 %) |
| Operating Income | 1.46 | (1.91) | (230.2 %) |
| Net Income | 1.67 | (1.57) | (194.2 %) |
| Average Shares | 31.67 | 31.67 | - |
| EPS (Riyals) | 0.05 | (0.05) | (194.2 %) |
On a sequential basis, net profit dropped 67.6% from SAR 1.67 million.
Total shareholders’ equity (no minority interest) stood at SAR 446.73 million, compared to SAR 478.38 million in the year-earlier period.
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