Southern Cement’s 9M 2024 profit grows 20% to SAR 145M; Q3 at SAR 53M

07/11/2024 Argaam Exclusive
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Southern Province Cement Co. reported a 20% profit rise to SAR 145 million in 9M 2024, from SAR 121 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 812.32 697.51 (14.1 %)
Gross Income 188.12 218.61 16.2 %
Operating Income 135.22 150.75 11.5 %
Net Income 121.19 145.18 19.8 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items 0.87 1.00 15.8 %
EPS (Riyals) 0.87 1.04 19.8 %

The 9M 2024 net earnings were lifted by higher average selling prices and other revenues, lower cost of goods sold, and a decline in selling and distribution expenses.

 

On the other hand, sales dropped due to weak sales volumes.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 286.47 232.52 (18.8 %)
Gross Income 80.73 71.52 (11.4 %)
Operating Income 58.46 48.61 (16.8 %)
Net Income 53.26 53.05 (0.4 %)
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items 0.38 0.34 (9.6 %)
EPS (Riyals) 0.38 0.38 (0.4 %)

The company’s year-on-year (YoY) net profit for Q3 2024 remained stable at SAR 53 million.

 

Sequentially, net profit climbed 76.7% from SAR 30 million in Q2 2024.

 

Shareholders’ equity, no minority interest, rose to SAR 3.27 billion as of Sept. 30, 2024, compared to SAR 3.20 billion a year earlier.

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Share Price

Southern Province Cement Co.
32.40
0.20 0.62 %

Southern Province Cement Co. (SPCC)

1 Day 0.62 % 5 Days 1.73 % 3 Months (2.41 %) 6 Months (7.30 %) Year (17.56 %) 2 Years (35.33 %) 5 Years (34.81 %) All 22.54 %
Created with Highstock 6.0.710:1010:2010:3010:4010:5011:0011:1011:2011:3011:4012:0012:2012:3012:4012:5013:0013:1013:3013:5014:0014:1014:2014:3014:4014:5015:1029.5029.5529.6029.6529.7029.7529.8029.8529.9029.9530.00
Close : 29.75 | Mar 26, 15:18
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Financial Ratios
Current
Market Cap (M Riyal) 4,536.00
Enterprise Value (EV) (M) 4,876.92
Shares Outstanding ((M)) 140.00
EPS ( Riyal) (TTM) 1.57
Book Value (BV) ( Riyal) 23.36
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 22.96
P/E (TTM) 20.68
Price/book 1.39
Return on Average Assets (%) (TTM) 5.4
Return on Average Equity (%) (TTM) 6.8
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