Qassim Cement Co. reported a net profit after Zakat and tax of SAR 111.2 million for the first quarter of 2020, a rise of 99% year-on-year (YoY), thanks to higher sales volumes and average selling prices.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 153.40 | 261.75 | 70.6 % |
| Gross Income | 64.82 | 152.84 | 135.8 % |
| Operating Income | 57.14 | 129.22 | 126.2 % |
| Net Income | 56.27 | 111.17 | 97.6 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.63 | 1.24 | 97.6 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 293.69 | 261.75 | (10.9 %) |
| Gross Income | 189.68 | 152.84 | (19.4 %) |
| Operating Income | 166.25 | 129.22 | (22.3 %) |
| Net Income | 144.09 | 111.17 | (22.8 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 1.60 | 1.24 | (22.8 %) |
When compared to Q4 2019, net profit after Zakat and tax dropped 22.8% hit by a decline in sales value, reversal of sales allowances at the end of 2019 and impairment of long-term financial investments.
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