Northern Region Cement Co. reported a net profit after Zakat and tax of SAR 41.7 million for the first half of 2020, an increase of 41% year-on-year (YoY), driven by higher sales revenue, and lower cost of finance, despite higher Zakat provisions.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 268.57 | 312.20 | 16.2 % |
| Gross Income | 100.24 | 93.78 | (6.4 %) |
| Operating Income | 54.33 | 55.10 | 1.4 % |
| Net Income | 29.39 | 41.37 | 40.8 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.16 | 0.23 | 40.8 % |
The cement producer's net profit after Zakat and tax for the second quarter declined 0.16% YoY to SAR 14 million, due to higher Zakat provisions.
On a quarter-on-quarter basis, the profit for the current quarter dropped by 49.15%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 144.25 | 132.04 | (8.5 %) |
| Gross Income | 49.12 | 39.91 | (18.8 %) |
| Operating Income | 27.35 | 24.14 | (11.7 %) |
| Net Income | 13.97 | 13.93 | (0.3 %) |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.08 | 0.08 | (0.3 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 180.17 | 132.04 | (26.7 %) |
| Gross Income | 53.88 | 39.91 | (25.9 %) |
| Operating Income | 30.96 | 24.14 | (22.0 %) |
| Net Income | 27.43 | 13.93 | (49.2 %) |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.15 | 0.08 | (49.2 %) |
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