Al Jouf Cement net profit surges to SAR 22.5 mln in H1 2020

12/08/2020 Argaam Exclusive

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Al Jouf Cement Co. reported a net profit after Zakat and tax of SAR 22.46 million for the first half of 2020 compared to a profit of SAR 1.56 million in the same period last year.

The increase in net profit was attributed to higher value of sales, and lower cost of sales per ton as a result of the increase in production, despite the decrease in other revenue.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	103.05	115.30	11.9 %
Gross Income	13.55	39.38	190.7 %
Operating Income	2.27	26.72	1078.8 %
Net Income	1.61	22.46	1296.7 %
Average Shares	108.70	108.70	-
EPS (Riyals)	0.01	0.21	1296.7 %

On a quarterly basis, the company reported a net profit of SAR 7.25 million in Q2 2020 from a profit of SAR 114,029 in the same period a year earlier.

When compared to previous quarter, net profit fell 52.37% due to lower value of sales and higher cost of sales per ton due to the decrease in production compared to the previous quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	46.20	56.49	22.3 %
Gross Income	6.73	15.75	134.3 %
Operating Income	1.18	9.23	682.3 %
Net Income	0.11	7.25	6256.1 %
Average Shares	108.70	108.70	-
EPS (Riyals)	0.00	0.07	6256.1 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	58.81	56.49	(4.0 %)
Gross Income	23.63	15.75	(33.3 %)
Operating Income	17.49	9.23	(47.2 %)
Net Income	15.21	7.25	(52.4 %)
Average Shares	108.70	108.70	-
EPS (Riyals)	0.14	0.07	(52.4 %)

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