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QASSIM CEMENT COMPANY ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 30 JUNE 2024 (SIX MONTHS)

3040
QACCO
-0.96 %
1446/02/07     11/08/2024 08:36:16

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 203,300,720137,187,78248.191196,417,0133.504
Gross Profit (Loss) 78,958,67337,555,559110.24482,782,307-4.618
Operational Profit (Loss) 74,684,63028,261,346164.26466,841,46611.733
Net profit (Loss) 72,891,26538,095,56491.33774,221,592-1.792
Total Comprehensive Income 72,891,26538,095,56491.33774,221,592-1.792
All figures are in (Actual) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 399,717,733311,258,45828.419
Gross Profit (Loss) 161,740,98094,200,05471.699
Operational Profit (Loss) 141,526,09677,337,91482.997
Net profit (Loss) 147,112,85793,035,18058.126
Total Comprehensive Income 147,112,85793,035,18058.126
Total Shareholders Equity (after Deducting Minority Equity) 2,822,997,6261,645,312,00471.578
Profit (Loss) per Share 1.61.03
All figures are in (Actual) Saudi Arabia, Riyals


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


Element ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The increase in sales during the current quarter compared to the same quarter of the previous year is due to the increase in the sales volume in addition to the increase in average selling price.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The increase in the net profit during the current quarter compared to the same quarter of the previous year is mainly due to the increase in sales value & volume. Despite the increase in the S&M expense and the increase in the G&A expenses.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The increase in sales during the current quarter compared to the previous quarter is due to the increase in the average selling price.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The decrease in net profit during the current quarter compared with the previous quarter is mainly due to the increase in cost of sales, in addition to the increase in the G&A expenses and the increase in the S&M expenses and the decrease in the financial investment returns. Despite the increase in other income.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The increase in sales during the current period compared to the same period of the previous year is due to the increase in the sales volume in addition to the increase in average selling price.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The increase in the net profit during the current period compared to the same period of the previous year is mainly due to the increase in sales value & volume, in addition to the increase in other income. Despite the increase in the S&M expense and the increase in the G&A expenses.
Statement of the type of external auditor's report Unmodified conclusion
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) -
Reclassification of Comparison Items Some comparative figures have been reclassified to tally with the current presentation
Additional Information On June 10th, 2024 the company acquired 100% of the issued capital of Hail Cement Company, and this was reflected in the company's consolidated interim financial results for the period ending on June 30, 2024. The acquisition was accounted in accordance with IFRS 3 (Business Combinations). Accordingly, the company accounted provisionally for the acquisition using the carrying values (provisional values) of the acquired assets and liabilities on the date of acquisition, until the determination of the fair values and complete the PPA within twelve months from the date of acquisition in accordance with regulatory requirements and as permitted by IFRS 3, the Company shall adjust the provisional values recognized during the measurement period to fair values Retroactively.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Key Parameters
Last Price 51.4
Net Change -0.5 (-0.96%)
Value Traded (Sar) 6,027,678.5
Volume Traded 116,648
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