Saudi Ceramic’s H1 profits leap 679%

Sales increased by 2.7%

  
Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. Image used for illustrative purpose

Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. Image used for illustrative purpose

REUTERS/Ahmed Yosri
Riyadh – Mubasher: Saudi Ceramic Company reported an annual jump of 679% in net profit after Zakat and tax to SAR 134.02 million in the first half (H1) of 2021 from SAR 17.19 million in H1-20.

Earnings per share stood at SAR 1.68 in H1-21, compared to SAR 0.22 in H1-20, according to the interim financial results on Tuesday.

Sales increased by 2.7% annually to SAR 796.39 million in the January-June 2021 period from SAR 775.32 million in the same period last year.

During the second quarter (Q2) of 2021, Saudi Ceramic achieved a leap of 865% in net profits to SAR 63.33 million from SAR 6.56 million in Q2-20.

Sales, meanwhile, shrank by 6.7% to SAR 365.05 million in Q2-21 from SAR 381.99 million in Q2-20.

Quarter-on-quarter, the net profits in Q2-21 were lower by 10.4% than SAR 70.73 million in Q1-21. In addition, the sales decreased by 19% from SAR 440.33 million.

The listed company will be paying SAR 0.75 per share as a cash dividend to the entitled shareholders on 15 August.

Source: Mubasher

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