Data News > Southern Province Cement Company's Q1-24 Net Profits Soar by 26.53%
Southern Province Cement Company's Q1-24 Net Profits Soar by 26.53%
By KlickAnalytics Data Insights | May 16, 2024 10:01AM ET
- Southern Province Cement Company's net profits in Q1-24 jump 26.53% YoY to SAR 62 million
- Revenues decline by 16.33% YoY to SAR 251 million
- EPS reaches SAR 0.44, up from SAR 0.35 in the same period last year
Southern Province Cement Company announced that its net profits skyrocketed by 26.53% year-on-year to SAR 62 million in the first quarter (Q1) of 2024. However, revenues took a hit, plunging by 16.33% YoY to SAR 251 million from SAR 300 million in the same period. The earnings per share (EPS) also saw an increase, hitting SAR 0.44 in Q1-24, up from SAR 0.35 in the corresponding period a year earlier.
On a quarter-on-quarter (QoQ) basis, the company's net profit declined by 16.21% in Q1-24 from SAR 74 million in Q4-23, while revenues decreased by 2.71% from SAR 258 million. In the fiscal year 2023, Southern Province Cement Company's net profit dropped by 35.22% year-on-year to SAR 195 million from SAR 301 million.
- Revenues decline by 16.33% YoY to SAR 251 million
- EPS reaches SAR 0.44, up from SAR 0.35 in the same period last year
Southern Province Cement Company announced that its net profits skyrocketed by 26.53% year-on-year to SAR 62 million in the first quarter (Q1) of 2024. However, revenues took a hit, plunging by 16.33% YoY to SAR 251 million from SAR 300 million in the same period. The earnings per share (EPS) also saw an increase, hitting SAR 0.44 in Q1-24, up from SAR 0.35 in the corresponding period a year earlier.
On a quarter-on-quarter (QoQ) basis, the company's net profit declined by 16.21% in Q1-24 from SAR 74 million in Q4-23, while revenues decreased by 2.71% from SAR 258 million. In the fiscal year 2023, Southern Province Cement Company's net profit dropped by 35.22% year-on-year to SAR 195 million from SAR 301 million.
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