04/08/2022
Argaam Exclusive
Northern Region Cement Co. posted a 9% drop in H1 2022 net profit after Zakat and tax to SAR 48.1 million from SAR 52.9 million in the year-earlier period, hit by lower sales volume and value.
The cement producer’s Q2 2022 net profit after Zakat and tax jumped 18% to SAR 24.7 million, compared to SAR 21 million in the prior-year period, driven by higher income from foreign investment.
Current Quarter Comparison (M)
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues |
145.32 |
133.42 |
(8.2 %) |
| Gross Income |
42.29 |
60.61 |
43.3 % |
| Operating Income |
26.60 |
32.88 |
23.6 % |
| Net Income |
21.04 |
24.74 |
17.6 % |
| Average Shares |
180.00 |
180.00 |
– |
| EPS (Riyals) |
0.12 |
0.14 |
17.6 % |
Compared to Q1 2022, net profit grew by 6% from SAR 23.35 million on better income from foreign investment.
Total shareholders’ equity, after minority interest, reached SAR 2.211 billion as of June 30, 2022, compared to SAR 2.208 billion a year before.
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Share Price
Northern Region Cement Co. ( NORTHERN CEMENT)
| Current | |
| Market Cap (M Riyal) | 2,131.20 |
| Enterprise Value (EV) (M) | 2,944.33 |
| Book Value (BV) ( Riyal) | 12.29 |
| Adjusted P/E (Last12) | 22.44 |
| P/E (TTM) | 20.98 |
| Price/book | 0.96 |
| Return on Average Assets (%) (TTM) | 3.1 |
| Return on Average Equity (%) (TTM) | 4.6 |
Kindly,
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