Riyadh Cement net profit rises 16% to SAR 220 mln in 2020

24/03/2021 Argaam Exclusive

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Share Price

Riyadh Cement Co.
26.75
0.05 0.19 %

Riyadh Cement Co. reported a net profit after Zakat and tax of SAR 220 million for 2020, an increase of 16% from SAR 190 million a year earlier.

 

The profit growth was driven by lower operating expenses, finance charges, and higher sales volumes despite a decline in average selling prices.



Financials (M)

Item 2019 2020 Change‬
Revenues 594.00 590.29 (0.6 %)
Gross Income 229.88 254.10 10.5 %
Operating Income 206.12 226.89 10.1 %
Net Income 190.04 219.95 15.7 %
Average Shares 120.00 120.00 -
EPS (Riyals) 1.58 1.83 15.7 %

Total shareholders’ equity, excluding minority interest, edged down 1.10% year-on-year (YoY) to SAR 1.723 billion in 2020.



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