Financial Results : Al Jouf Cement net profit declines 74% to SAR 5.6 mln in Q1 2022

Al Jouf Cement net profit declines 74% to SAR 5.6 mln in Q1 2022

24/05/2022 Argaam Exclusive

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Al Jouf Cement Co. reported a net profit after Zakat and tax of SAR 5.6 million in Q1 2022, a slump of 74% year-on-year (YoY), from SAR 21 million in a year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 67.89 48.81 (28.1 %)
Gross Income 30.25 13.92 (54.0 %)
Operating Income 24.37 7.89 (67.6 %)
Net Income 18.00 3.55 (80.3 %)
Average Shares 108.70 108.70 -
EPS (Riyals) 0.17 0.03 (80.3 %)

The decline was triggered by lower sales volumes and value.

 

Sequentially, the cement producer turned to profit in Q1 2022, versus a net loss of SAR 182.2 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, dropped by 26.06% YoY to SAR 1.096 billion as of March 31, 2022, from SAR 1.482 billion in a year-earlier period.

 

 

Accumulated losses stood at SAR 337.562 million, or 23.6% of capital, by the end of the three-month period.

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