Northern Region Cement Co. posted a 9% drop in H1 2022 net profit after Zakat and tax to SAR 48.1 million from SAR 52.9 million in the year-earlier period, hit by lower sales volume and value.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 307.20 | 266.68 | (13.2 %) |
| Gross Income | 96.16 | 96.01 | (0.2 %) |
| Operating Income | 63.00 | 62.60 | (0.6 %) |
| Net Income | 52.57 | 47.87 | (8.9 %) |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.29 | 0.27 | (8.9 %) |
The cement producer’s Q2 2022 net profit after Zakat and tax jumped 18% to SAR 24.7 million, compared to SAR 21 million in the prior-year period, driven by higher income from foreign investment.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 145.32 | 133.42 | (8.2 %) |
| Gross Income | 42.29 | 49.54 | 17.1 % |
| Operating Income | 26.60 | 32.88 | 23.6 % |
| Net Income | 20.91 | 24.64 | 17.8 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.12 | 0.14 | 17.8 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 133.26 | 133.42 | 0.1 % |
| Gross Income | 46.47 | 49.54 | 6.6 % |
| Operating Income | 29.72 | 32.88 | 10.6 % |
| Net Income | 23.24 | 24.64 | 6.0 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.13 | 0.14 | 6.0 % |
Compared to Q1 2022, net profit grew by 6% from SAR 23.35 million on better income from foreign investment.
Total shareholders’ equity, after minority interest, reached SAR 2.211 billion as of June 30, 2022, compared to SAR 2.208 billion a year before.
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