Data News > Al Jouf Cement Company Sees Impressive Profit Growth in Q1-24

Al Jouf Cement Company Sees Impressive Profit Growth in Q1-24

By KlickAnalytics Data Insights  |   May 16, 2024 11:01AM ET

- Consolidated net profit jumps by 21.22% YoY to SAR 12.45 million
- Revenues increase by 16.75% YoY to SAR 82.04 million
- EPS reaches SAR 0.11 in Q1-24

In the first quarter of 2024, Al Jouf Cement Company reported a significant increase in its consolidated net profit, which surged by 21.22% year-on-year to SAR 12.45 million. Revenues also saw a strong growth of 16.75% YoY, reaching SAR 82.04 million, according to the interim financial results. The company's earnings per share (EPS) recorded SAR 0.11 in the three-month period ending on 31 March 2024, up from SAR 0.09 in the same period last year.

However, on a quarter-on-quarter basis, the company's net profit experienced a decline of 69.23% in Q1-24 compared to Q4-23, dropping from SAR 40.46 million. Similarly, revenues decreased by 2.02% from SAR 83.74 million. Despite this, Al Jouf Cement Company's consolidated net profit had seen a substantial increase of 174.20% YoY in 2023, reaching SAR 84.71 million from SAR 30.89 million.
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