Hail Cement net profit surges to SAR 62 mln in H1 2020

26/07/2020 Argaam Exclusive

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Hail Cement Co. reported a net profit after Zakat and tax of SAR 62 million in the first half of 2020, compared to a net profit of SAR 20.6 million a year earlier.

The over three-fold increase year-on-year (YoY) was driven by higher revenue.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	122.00	185.70	52.2 %
Gross Income	33.34	83.49	150.4 %
Operating Income	21.86	72.08	229.8 %
Net Income	20.63	61.97	200.5 %
Average Shares	97.90	97.90	-
EPS (Riyals)	0.21	0.63	200.5 %

In Q2 2020, the cement producer swung to a net profit after Zakat and tax of SAR 22 million, against a net loss of SAR 1.9 million a year earlier, on increased revenue and lower expenses.

When compared to the previous quarter, net profit dropped 46% hit by a decline in revenue.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	53.43	66.24	24.0 %
Gross Income	6.17	28.47	361.7 %
Operating Income	0.34	23.90	7033.7 %
Net Income	(1.92)	21.75	1232.1 %
Average Shares	97.90	97.90	-
EPS (Riyals)	(0.02)	0.22	1232.1 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	119.46	66.24	(44.6 %)
Gross Income	55.02	28.47	(48.3 %)
Operating Income	48.19	23.90	(50.4 %)
Net Income	40.22	21.75	(45.9 %)
Average Shares	97.90	97.90	-
EPS (Riyals)	0.41	0.22	(45.9 %)

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