Hail Cement net profit rises to SAR 84.8 mln in 9M 2020

25/10/2020 Argaam Exclusive

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Hail Cement Co. reported a net profit after Zakat and tax of SAR 84.8 million for the first nine months of 2020, compared to a profit of SAR 28.2 million in the same period last year, driven by higher revenue.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	184.21	257.38	39.7 %
Gross Income	49.64	113.72	129.1 %
Operating Income	32.88	96.27	192.8 %
Net Income	28.22	84.80	200.5 %
Average Shares	97.90	97.90	-
EPS (Riyals)	0.29	0.87	200.5 %

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	62.21	71.68	15.2 %
Gross Income	16.30	30.24	85.5 %
Operating Income	11.02	24.19	119.4 %
Net Income	7.59	22.83	200.6 %
Average Shares	97.90	97.90	-
EPS (Riyals)	0.08	0.23	200.6 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	66.24	71.68	8.2 %
Gross Income	28.47	30.24	6.2 %
Operating Income	23.90	24.19	1.2 %
Net Income	21.75	22.83	5.0 %
Average Shares	97.90	97.90	-
EPS (Riyals)	0.22	0.23	5.0 %

The third-quarter net profit after Zakat and tax more than tripled YoY to SAR 22.8 million, due to higher revenue and lower expenses.

When compared to previous quarter, net profit jumped 4.98%.

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