Al Jouf Cement Co. reported a net profit after Zakat and tax of SAR 27.5 million for the first half of 2021, a rise of 22.6% from SAR 22.5 million a year earlier.
The company attributed the increase in net profit to higher sales and lower cost of sales, despite an increase in financing charges and Zakat expenses.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 115.30 | 121.63 | 5.5 % |
| Gross Income | 39.38 | 49.50 | 25.7 % |
| Operating Income | 26.72 | 37.49 | 40.3 % |
| Net Income | 22.46 | 25.69 | 14.4 % |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.21 | 0.24 | 14.4 % |
In Q2 2021, net profit after Zakat and tax grew by 12% to SAR 8.1 million from SAR 7.2 million in the year-ago period, backed by a decline in the cost of goods sold.
Sequentially, the cement producer’s net profit after Zakat and tax fell by 58% from SAR 19.4 million, as sales dropped due to seasonal factors, such as the holy month of Ramadan and Eid Al-Fitr holidays.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 56.49 | 53.74 | (4.9 %) |
| Gross Income | 15.75 | 19.25 | 22.2 % |
| Operating Income | 9.23 | 13.12 | 42.1 % |
| Net Income | 7.25 | 7.69 | 6.1 % |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.07 | 0.07 | 6.1 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 67.89 | 53.74 | (20.8 %) |
| Gross Income | 30.25 | 19.25 | (36.4 %) |
| Operating Income | 24.37 | 13.12 | (46.2 %) |
| Net Income | 18.00 | 7.69 | (57.3 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.17 | 0.07 | (57.3 %) |
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