Hail Cement swings to SAR 59.6 mln profit in FY19

02/02/2020 Argaam Exclusive

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Hail Cement Co. posted a net profit after Zakat and tax of SAR 59.657 million for fiscal year 2019, compared to a net loss of SAR 25.029 million a year earlier.

Financials (M)

Item	2018	2019	Change‬
Revenues	195.98	274.40	40.0 %
Gross Income	11.13	91.43	721.4 %
Operating Income	(15.27)	69.51	555.2 %
Net Income	(25.03)	59.06	336.0 %
Average Shares	97.90	97.90	-
EPS (Riyals)	(0.26)	0.60	336.0 %

The rise in net profit is attributed to higher revenue and lower expenses, the company said in a statement to Tadawul.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	64.98	90.19	38.8 %
Gross Income	21.96	41.79	90.3 %
Operating Income	12.51	36.64	192.9 %
Net Income	7.05	30.84	337.2 %
Average Shares	97.90	97.90	-
EPS (Riyals)	0.07	0.32	337.2 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	62.21	90.19	45.0 %
Gross Income	16.30	41.79	156.4 %
Operating Income	11.02	36.64	232.4 %
Net Income	7.59	30.84	306.1 %
Average Shares	97.90	97.90	-
EPS (Riyals)	0.08	0.32	306.1 %

Total revenue for FY2019 stood at SAR 274 million, compared to SAR 196 million in the year-earlier period, an increase of 40.02%.

Earnings per share during FY 2019 amounted to SAR 0.60, compared to loss of SAR 0.24 a year earlier, the statement also said.

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