Saudi Ceramics Profits Increased to SR52.4 Million during 3Q by 61%

The net profit after zakat and tax for Saudi Ceramic Company grew to SR52.4 million during the third quarter, compared to SR32.4 million during the same quarter of the previous year, by 61%.

The company announced on Monday the estimated financial results for the period ending on 30-09-2021 (9 months).

The operational profit amounted to SR58 million during the third quarter, compared to SR41 million during the same quarter of the previous year at a growth of 43%.

The gross profit amounted to SR118 million during the third quarter, compared to SR107 million during the same quarter of the previous year at an increase of 10%.

The net profit after zakat and tax during the current period amounted to SR187 million, compared to SR50 million during the same period of the previous year, an increase of 276%.

Profits per share during the current period amounted to 2.34 riyals, compared to 0.62 riyals during the same period of the previous year.

The reason for improving performance and achieving an increase in net profit during the current quarter compared to the same quarter of the previous year is due to an improvement in profit margins.

The current quarter also witnessed a decrease in selling and marketing expenses, as well as general and administrative expenses. In addition to the decrease in financing costs in the current quarter compared to the same quarter of the previous year.

The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to the increase in production costs.

The current quarter witnessed a decrease in selling and marketing expenses, as well as administrative and general expenses.

The reason for the improvement in performance and the increase in profits for the current period compared to the same period of the previous year is due to the improvement in profit margins, which positively affected the improvement in operating profits.

In addition to a decrease in financing costs during the current period compared to the same period of the previous year

The comparative earnings per share figures have been recalculated due to the capital increase, which affected the average number of shares.