Qassim Cement Co. announces estimated financial results for year 2013

08/01/2014 00:57 AST

Estimated net profit during the 4th Q 2013 amounted to SAR 135.3 million versus SAR 143 million for the same quarter of last year with a decrease of 5.4 %, compared to SAR 114.7 million for the previous quarter with an increase of 17.97 %.

Estimated gross profit during the 4th Q of 2013 added up to SAR 146.9 million versus SAR 160.6 million for the same quarter of last year, a decrease of 8.53 percent.

Estimated operating profit decreased 8.25% to SAR 138.5million during 4thQuarter of 2013 versus SAR 150.97 million for the same quarter of last year.

While, estimated net profit during 2013 showed an increase of 4.22 percent with SAR 584.6 million versus SAR 560.97 million for the last year 2012.

EPS of Qassim Cement Company during 2013 recorded as SAR 6.5 per share versus SAR 6.23 SAR/Share for the same period last year 2012.

The estimated total gross profit during 2013 is recorded as SAR 644 million versus SAR 613.93 million for the last year 2012, showing an increase of 4.9 %.

The estimated total operating profit of Qassim cement Company during 2013 amounted to SAR 606.3 million versus SAR 579.7 million for the last year 2012, a decrease of 4.58 %.

The main reasons for the decrease in the current quarter Net Profit as compared to the previous one is due to the decline in the value and volume of sales driven by lower demand of cement.

The main reason for increase in yearly net profit is due to the higher sales value and improved financial results of the subsidiary's operation.

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