Southern Province Cement Co.’s net profit slumped 44% to SAR 49 million in Q1 2023, from SAR 87 million a year earlier.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 329.97 | 299.85 | (9.1 %) |
| Gross Income | 106.34 | 70.79 | (33.4 %) |
| Operating Income | 90.67 | 54.00 | (40.4 %) |
| Net Income | 89.27 | 49.00 | (45.1 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.64 | 0.35 | (45.1 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 335.17 | 299.85 | (10.5 %) |
| Gross Income | 92.85 | 70.79 | (23.8 %) |
| Operating Income | 71.42 | 54.00 | (24.4 %) |
| Net Income | 62.30 | 49.00 | (21.4 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.45 | 0.35 | (21.4 %) |
The profit decline is attributed to lower sales revenue as a result of a decline in demand with an increase in the cost of goods sold and expenses.
Sequentially, the company’s net profit fell 21.4% from SAR 62.3 million in Q4 2022.
Total shareholders’ equity, no minority interest, stood at SAR 3.25 billion as of March 31, 2023, compared to SAR 3.26 billion a year earlier.
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}}