Najran Cement Co. reported a 25% rise in Q1 2023 net profit to SAR 29 million, from SAR 23.3 million in the year-earlier period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 139.87 | 143.68 | 2.7 % |
| Gross Income | 38.31 | 45.32 | 18.3 % |
| Operating Income | 26.13 | 35.22 | 34.8 % |
| Net Income | 23.29 | 28.98 | 24.5 % |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.14 | 0.17 | 24.5 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 160.08 | 143.68 | (10.2 %) |
| Gross Income | 64.78 | 45.32 | (30.0 %) |
| Operating Income | 53.69 | 35.22 | (34.4 %) |
| Net Income | 48.39 | 28.98 | (40.1 %) |
| Average Shares | 170.00 | 170.00 | - |
| EPS (Riyals) | 0.28 | 0.17 | (40.1 %) |
The profit growth was driven by higher revenue, along with lower selling and distribution expenses, despite an increase in financing cost.
Compared to Q4 2022, the first-quarter net profit fell 41.2% from SAR 49.33 million hurt by lower sales volumes and higher production input costs.
Shareholders’ equity, after minority interest, rose to SAR 1.97 billion by March 31, 2023, compared to SAR 1.94 billion in the year-earlier period
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}