Saudi Ceramic logs 275.9% rise in net profits in nine months

Revenues went up 0.7%

  
Image used for illustrative purpose. Saudi traders monitor stocks at a Saudi Bank in Dammam.

Image used for illustrative purpose. Saudi traders monitor stocks at a Saudi Bank in Dammam.

REUTERS/Stringer
Riyadh – Mubasher: Saudi Ceramic Company recorded a leap of 275.9% in net profits after Zakat and tax to SAR 186.67 million in the January-September 2021 period from SAR 49.65 million in the same period last year.

Earnings per share stood at SAR 2.34 at the end of September this year, compared to SAR 0.62 in the same month in 2020, according to the financial results on Monday.

Revenues went up 0.7% to SAR 1.15 billion in the nine-month period in 2021 from SAR 1.14 billion in the prior-year period.

During the third quarter (Q3) of 2021, Saudi Ceramic achieved net profits worth SAR 52.39 million, rising by 61% from SAR 32.46 million in Q3-20.

Revenues meanwhile decreased by 3.4% to SAR 360.14 million in Q3-21 from SAR 373.05 million in Q3-20.

Quarter-on-quarter (QoQ), the net profits in Q3-21 were 17% lower than SAR 63.33 million in Q2-21 and the revenues were higher by 1% than SAR 356.05 million.

Source: Mubasher

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