Financial Results : National Gypsum Q1 2024 profits up 46% to SAR 790,000

National Gypsum Q1 2024 profits up 46% to SAR 790,000

19/05/2024 Argaam Exclusive

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National Gypsum Co.’s (NGC) net profit rose in the first quarter of 2024 by 46% to SAR 790,000 from SAR 543,000 in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 13.36 16.85 26.2 %
Gross Income 1.88 2.21 17.6 %
Operating Income (0.48) (0.15) 69.2 %
Net Income 0.54 0.79 45.4 %
Average Shares 31.67 31.67 -
EPS (Riyals) 0.02 0.02 45.4 %

The company attributed profits growth to an increase in net sales by 26.16%.

 

Following a loss of SAR 5.99 million in Q4 2023, NGC turned to a net profit due to a 53.34% increase in net sales, a 54.30% decrease in administrative and marketing expenses, and a 2715.01% increase in net miscellaneous income (investments).

 

Shareholders’ equity, no minority interest, increased to SAR 360.9 million as of March 31, 2024, from SAR 356.71 million a year earlier.

 

Total comprehensive loss widened to SAR 1.24 million in Q1 2024 against a total comprehensive income of SAR 70,000 in Q1 2023 and a total comprehensive loss of SAR 6.86 million in Q4 2023.

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