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


















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