Hail Cement Co. reported a net profit after Zakat and tax of SAR 47.2 million for the first nine months of 2021, declining 44% from SAR 84.8 million in the same period last year.
The cement producer attributed the profit drop to lower revenue.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 257.38 | 203.88 | (20.8 %) |
| Gross Income | 113.72 | 63.69 | (44.0 %) |
| Operating Income | 96.27 | 45.25 | (53.0 %) |
| Net Income | 84.80 | 47.17 | (44.4 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.87 | 0.48 | (44.4 %) |
The third-quarter net profit after Zakat and tax declined 74% year-on-year (YoY) to SAR 6 million, due to lower revenue and higher expenses.
When compared to previous quarter, Q3 2021 net profit dropped 61.1%.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 71.68 | 56.08 | (21.8 %) |
| Gross Income | 30.24 | 12.33 | (59.2 %) |
| Operating Income | 24.19 | 6.38 | (73.6 %) |
| Net Income | 22.83 | 5.96 | (73.9 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.23 | 0.06 | (73.9 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 65.91 | 56.08 | (14.9 %) |
| Gross Income | 20.45 | 12.33 | (39.7 %) |
| Operating Income | 15.03 | 6.38 | (57.6 %) |
| Net Income | 15.35 | 5.96 | (61.2 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.16 | 0.06 | (61.2 %) |
Shareholders' equity, excluding minority interests, at the end of 9M 2021 amounted to SAR 1.161 billion, compared to SAR 1.163 billion in the year-earlier period.
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