Riyadh – Mubasher: Hail Cement Company shifted to net losses after Zakat and tax worth SAR 5.90 million in the first nine months (9M) of 2022, versus net profits of SAR 47.17 million in 9M-21.
The firm generated revenues worth SAR 268.21 million in 9M-22, an annual leap of 31.55% from SAR 203.88 million, according to the interim income statements.
Additionally, the loss per share stood at SAR 0.06 in January-September 2022, against earnings per share (EPS) of SAR 0.48 during the same period a year earlier.
In the third quarter (Q3) of 2022, Hail Cement witnessed a 31.26% year-on-year (YoY) surge in net profit after Zakat and tax to SAR 7.81 million, compared to SAR 5.95 million.
Revenues hiked by 84.17% YoY to SAR 103.28 million in Q3-22 from SAR 56.08 million.
On a quarterly basis, the company turned profitable in Q3-22, against net losses of SAR 6.82 million in Q2-22. Meanwhile, the Q3-22 revenues increased by 7.23% from SAR 96.31 million in Q2-22.
During the first half (H1) of 2022, the Tadawul-listed firm swung to net losses after Zakat and tax worth SAR 13.72 million, compared to net profits of SAR 41.21 million in the year-ago period.
Last September, Hail Cement paid a total of SAR 24.42 million as cash dividends for H1-22.
