Financial Results : Northern Cement profit falls 7% to SAR 21.8 mln in Q1 2023

Northern Cement profit falls 7% to SAR 21.8 mln in Q1 2023

18/05/2023 Argaam Exclusive

View other reports

Northern Region Cement Co. posted a net profit of SAR 21.8 million for Q1 2023, down 7% from SAR 23.3 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 133.26 181.09 35.9 %
Gross Income 46.47 43.95 (5.4 %)
Operating Income 29.72 27.66 (6.9 %)
Net Income 23.24 21.40 (7.9 %)
Average Shares 180.00 180.00 -
EPS (Riyals) 0.13 0.12 (7.9 %)

The cement producer attributed the profit decline to higher cost of sales and a rise in Saudi Arabian Interbank Offered Rate (SAIBOR).

 

On a quarter-on-quarter basis, net profit dropped 40.5% from 36.59 million in Q4 2022, due to higher cost of sales and lower income from subsidiaries.

 

Total shareholders’ equity, excluding minority interest, reached SAR 2.24 billion in Q1 2023, compared to SAR 2.23 billion a year before.

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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.