Qassim Cement Co. reported a net profit after Zakat and tax of SAR 196.6 million for the first half of 2020, a 56% rise year-on-year (YoY), driven by higher sales volumes and improved selling prices, despite increased general and administrative expenses (G&As).
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 307.93 | 429.18 | 39.4 % |
| Gross Income | 140.44 | 243.73 | 73.5 % |
| Operating Income | 125.59 | 211.58 | 68.5 % |
| Net Income | 124.44 | 196.64 | 58.0 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 1.38 | 2.18 | 58.0 % |
The second quarter’s net profit after Zakat and tax rose 21% YoY to SAR 85.5 million, backed by higher sales, increased selling prices and higher other income.
When compared to the previous quarter, net profit fell by 23%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 154.53 | 167.44 | 8.4 % |
| Gross Income | 75.62 | 90.89 | 20.2 % |
| Operating Income | 68.45 | 82.36 | 20.3 % |
| Net Income | 68.17 | 85.47 | 25.4 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.76 | 0.95 | 25.4 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 261.75 | 167.44 | (36.0 %) |
| Gross Income | 152.84 | 90.89 | (40.5 %) |
| Operating Income | 129.22 | 82.36 | (36.3 %) |
| Net Income | 111.17 | 85.47 | (23.1 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 1.24 | 0.95 | (23.1 %) |
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