Northern Cement net profit up 7% to SAR 75.7 mln in 9M 2022, Q3 at SAR 27.6 mln

03/11/2022 Argaam Exclusive

View other reports

Northern Region Cement Co. reported a net profit after Zakat and tax of SAR 75.7 million in the first nine months of 2022, a 7% increase compared to SAR 70.9 million in the year-ago period.

The profit hike was driven by higher external investment returns despite a surge in financing cost.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	435.30	432.94	(0.5 %)
Gross Income	138.18	147.10	6.5 %
Operating Income	84.51	95.43	12.9 %
Net Income	70.93	75.43	6.3 %
Average Shares	180.00	180.00	-
EPS (Riyals)	0.39	0.42	6.3 %

In Q3 2022, the net profit after Zakat and tax saw a 51% increase to SAR 27.6 million, from SAR 18.4 million in the year before.

Sequentially, the cement producer’s net profit rose 12% from SAR 24.7 million in Q2 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	128.10	166.26	29.8 %
Gross Income	42.02	62.00	47.6 %
Operating Income	21.50	32.82	52.7 %
Net Income	18.36	27.56	50.1 %
Average Shares	180.00	180.00	-
EPS (Riyals)	0.10	0.15	50.1 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	133.42	166.26	24.6 %
Gross Income	49.54	62.00	25.2 %
Operating Income	32.88	32.82	(0.2 %)
Net Income	24.64	27.56	11.9 %
Average Shares	180.00	180.00	-
EPS (Riyals)	0.14	0.15	11.9 %

Shareholders’ equity, excluding minority interest, grew to SAR 2.238 billion as of Sept. 30, 2022, from SAR 2.181 billion in the year-earlier period.

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.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

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

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.

×