City Cement Co.’s net profit after Zakat and tax jumped 70% year-on-year (YoY) to SAR 70.5 million for the first quarter of 2020, compared to SAR 41.4 million in the same period last year.
The increase was driven by higher sales revenue and volumes, other income as well as lower general and administrative expenses.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 137.10 | 170.28 | 24.2 % |
| Gross Income | 51.29 | 82.24 | 60.3 % |
| Operating Income | 42.12 | 72.11 | 71.2 % |
| Net Income | 41.42 | 72.23 | 74.4 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.30 | 0.52 | 74.4 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 158.26 | 170.28 | 7.6 % |
| Gross Income | 81.36 | 82.24 | 1.1 % |
| Operating Income | 71.94 | 72.11 | 0.2 % |
| Net Income | 65.90 | 72.23 | 9.6 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.47 | 0.52 | 9.6 % |
When compared to the previous quarter, Q1 net profit increased 24% on higher sales volumes and revenue, and other income.
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