Financial Results : Hail Cement incurs SAR 6.9 mln losses in Q1 2022

Hail Cement incurs SAR 6.9 mln losses in Q1 2022

17/05/2022 Argaam Exclusive

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Hail Cement Co. reported a net loss after Zakat and tax of SAR 6.9 million for the first quarter of 2022, against a profit of SAR 25.9 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 81.89 68.62 (16.2 %)
Gross Income 30.91 (1.64) (105.3 %)
Operating Income 23.84 (7.36) (130.9 %)
Net Income 25.87 (6.89) (126.6 %)
Average Shares 97.90 97.90 -
EPS (Riyals) 0.26 (0.07) (126.6 %)

The loss was attributed to lower revenue and higher expenses.

 

The cement producer widened its losses in Q1 2022 by 44.6% from SAR 4.77 million in Q4 2021, on higher expenses.

 

Total shareholders’ equity, excluding minority interests, stood at SAR 1.097 billion as of March 31, 2022, declining by 7.6% from SAR 1.189 billion a year earlier.

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