Saudi Cement profits surge 18.6% to SR102.5 mln in Q2

11 Aug 2022

Riyadh - Maaal

The net profit before zakat of Astra Industrial Group rose in the second quarter to SR102.5 million, compared to SR86.4 million in the same quarter of last year, by 18.6%.

This came after the announcement on Thursday of the preliminary financial results for the period ending on 30.06.2022 (six months).

The operational profit amounted to SR 102.9 million in the second quarter, compared to SR 91.9 million in the same quarter of the last year, up 11.9%.

اقرأ المزيد

The net profit before zakat in the current period amounted to SR163.7 million, compared to SR205.8 million in the same period last year, an increase of 20.4%.

Profits per share in the current period reached SR 1.07, compared to SR1.35 in the same period last year.

The reason for the increase of current quarter net profit compared with the same quarter of last year is attributed to the increase in average selling prices, decrease in selling and distribution expenses, decrease in zakat provision, increase in share of profit in an associate and increase in other revenues, in spite of the increase in general and administrative expenses and the increase in financial charges.

The reason for the increase of current quarter net profit compared with previous quarter is attributed to the increase in sales revenues due to the increase in average selling prices, decrease in general and administrative expenses and decrease in zakat provision, in spite of the increase in the selling and distribution expenses, increase in financial charges, decrease in share of profit in an associate and the decrease in other revenues.

The reason for the decrease of current period net profit compared with the same period of last year is attributed to decrease in quantities and value of sales, increase in the general and administrative expenses and increase in financial charges, in spite of the decrease in selling and distribution expenses, decrease in zakat provision, increase in share of profit in an associate and increase in other revenues.