Monday, 4 July 2022

Hail Cement Records Losses of SR7 mln during 1Q

Hail Cement Company recorded losses after zakat and tax of SR7 million during the first quarter, compared to a profit of SR26 million during the same quarter of the previous year.

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This came after Hail Cement announcement on Tuesday the consolidated preliminary financial results for the period ending on 31.03.2022 (three months).

The operational loss amounted to SR7.3 million during the first quarter, compared to a profit of SR24 million during the same quarter of the previous year.

The gross loss amounted to SR1.23 million during the first quarter, compared to a profit of SR31 million during the same quarter of the previous year.

The loss per share during the current period amounted to SR0.07, compared to a profit of SR0.26 during the same period of the previous year.

The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is:

The reason for recording the loss during the current quarter compared to the same quarter last year, is due to decrease in revenue and increase of expenses.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is:

The reason for increase in net loss during the current quarter compared to the previous quarter is due to increase of expenses.

Some comparative figures have been reclassified to tally with the current presentation.

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