Northern Cement’s net profit surges to SAR 92.8 mln in FY19

Northern Cement’s net profit surges to SAR 92.8 mln in FY19

11/03/2020 Argaam Exclusive

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Northern Region Cement Co. reported a net profit after Zakat and tax of SAR 92.8 million for the fiscal year 2019, compared to a net profit of SAR 13.1 million a year earlier.

 

The sevenfold rise year-on-year (YoY) was buoyed by an increase in average selling prices and sales volumes, in addition to higher white cement exports.



Financials (M)

Item 2018 2019 Change‬
Revenues 392.55 673.37 71.5 %
Gross Income 147.60 216.32 46.6 %
Operating Income 54.53 125.86 130.8 %
Net Income 12.85 92.27 618.1 %
Average Shares 180.00 180.00 -
Earnings Per Share before unusual items 0.04 0.42 963.4 %
EPS (Riyals) 0.07 0.51 618.1 %

In Q4 2019, the cement producer reported a net profit after Zakat and tax of SAR 37.3 million compared to a net profit of SAR 13.3 million in year earlier period.

 

Shareholders’ equity after minority interest hit SAR 2.15 billion.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 53.08 210.12 295.9 %
Gross Income 45.91 55.00 19.8 %
Operating Income 22.28 33.69 51.2 %
Net Income 13.03 36.80 182.4 %
Average Shares 180.00 180.00 -
Earnings Per Share before unusual items 0.07 0.11 53.4 %
EPS (Riyals) 0.07 0.20 182.4 %

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