Southern Province Cement Co. (SPCC) reported a 26% drop in 2021 net profit after Zakat and tax to SAR 450 million, compared to SAR 609 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 1,653.11 | 1,339.35 | (19.0 %) |
| Gross Income | 714.85 | 505.41 | (29.3 %) |
| Operating Income | 664.42 | 453.22 | (31.8 %) |
| Net Income | 609.38 | 429.15 | (29.6 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 4.35 | 3.07 | (29.6 %) |
The lower profit was attributed to a decline in sales revenue amid lower volumes, along with higher general and administrative expenses.
In Q4 2021, net profit after Zakat and tax declined 32% year-on-year (YoY) to SAR 96.6 million.
On a sequential basis, the fourth-quarter net earnings grew by 12% from SAR 83.42 million.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 430.79 | 328.46 | (23.8 %) |
| Gross Income | 199.43 | 119.40 | (40.1 %) |
| Operating Income | 186.29 | 104.72 | (43.8 %) |
| Net Income | 141.25 | 97.91 | (30.7 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 1.01 | 0.70 | (30.7 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 284.22 | 328.46 | 15.6 % |
| Gross Income | 98.58 | 119.40 | 21.1 % |
| Operating Income | 86.63 | 104.72 | 20.9 % |
| Net Income | 74.12 | 97.91 | 32.1 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.53 | 0.70 | 32.1 % |
Shareholders’ equity, after minority interest, edged down 2.2% to SAR 3.207 billion in 2021, from SAR 3.280 billion in 2020.
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}}