Sunday, 10th March 2024

Saudi Cement Company announces its annual financial results for the year ended 31-12-2023.

Element List Current Year Previous Year %Change
Sales/Revenue 1,461.8 1,419.8 2.96
Gross Profit (Loss) 572.9 568.9 0.7
Operational Profit (Loss) 362.4 403.9 -10.27
Net profit (Loss) 381 398.8 -4.46
Total Comprehensive Income 363.6 395.2 -8
Total Share Holders Equity (After Deducting the Minority Equity) 2,159.3 2,293 -5.83
Profit (Loss) per Share 2.49 2.61  
All figures are in (Millions) Saudi Arabia, Riyals

 

Element List Amount Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value
All figures are in (Millions) Saudi Arabia, Riyals

 

Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year The reason of the increase in sales revenues during the current year compared with last year is due to the increase in the quantities and value of sales.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The reason for the decrease of current year net profit compared with last year is attributed to the increase in selling and distribution expenses, increase in general and administrative expenses, increase in financial charges, decrease in share of profit of investment in an associate and increase in zakat expense, in spite of the increase in other revenues and increase in gain on sale of investment related to the subsidiary.
Statement of the type of external auditor’s report Unmodified opinion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) None
Reclassification of Comparison Items None
Additional Information None

 

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