Financial Results : Hail Cement profit drops 19% to SAR 15M in Q1 2024

Hail Cement profit drops 19% to SAR 15M in Q1 2024

14/05/2024 Argaam Exclusive

View other reports

Hail Cement Co. posted a 19% fall in net profit to SAR 15 million for the first quarter of 2024, from SAR 18.5 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 61.85 73.78 19.3 %
Gross Income 22.59 20.11 (11.0 %)
Operating Income 16.06 13.08 (18.5 %)
Net Income 18.51 15.00 (19.0 %)
Average Shares 97.90 97.90 -
EPS (Riyals) 0.19 0.15 (19.0 %)

The annual net earnings were hurt by the higher cost of sales, Zakat charges, as well as selling and distribution expenses.

 

On the other hand, sales revenue increased on a year-on-year (YoY) basis, thanks to better sales volumes and average selling price.

 

Compared to Q4 2023, the cement producer’s net profit saw a spike of 364.2% from SAR 3.23 million. The surge was buoyed by higher sales on better average selling prices.

 

Hail Cement also reported a decline in general and administrative expenses.

 

Total shareholders’ equity, no minority interest, decreased to SAR 981.13 million as of March 31, 2024, from SAR 1.07 billion a year earlier.

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.