Financial Results : National Gypsum net profit down 83% to SAR 540,000 in Q1 2023

National Gypsum net profit down 83% to SAR 540,000 in Q1 2023

23/05/2023 Argaam Exclusive

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National Gypsum Co.’s net profit slumped 83% to SAR 540,000 in Q1 2023, from SAR 3.2 million a year earlier on a decrease in the quantity and value of sales due to low demand.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 14.59 13.36 (8.4 %)
Gross Income 5.19 1.88 (63.8 %)
Operating Income 2.58 (0.48) (118.5 %)
Net Income 3.21 0.54 (83.1 %)
Average Shares 31.67 31.67 -
EPS (Riyals) 0.10 0.02 (83.1 %)

Sequentially, the company turned to a profit against a loss of SAR 9.75 million in Q4 2022 driven by higher net sales and miscellaneous revenue.

 

Total shareholders’ equity, no minority interest, stood at SAR 432 million as of March 31, 2023, compared to SAR 485.92 million a year earlier.

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