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Southern Province Cement Co. announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 330439-24.8293280.609
Gross Profit (Loss) 106184-42.391109-2.752
Operational Profit (Loss) 91171-46.78395-4.21
Net Profit (Loss) after Zakat and Tax 87169-48.5288-1.136
Total Comprehensive Income 87169-48.5288-1.136
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 3,2623,449-5.421
Profit (Loss) per Share 0.621.21
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
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 decrease in net profit during the current quarter compared to the same quarter of the previous year is due to:

Decrease of sales revenue due to lower demand and decrease of other revenues with an increase in general and administration expenses

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The decrease in net profit during the current quarter compared to the previous quarter is due to:

increase of cost of goods sold with a decrease of the other revenues.

Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items Not applicable
Additional Information 1- Total sales revenues during the current quarter amounted to 330 million SAR, compared to 439 million SAR for the same quarter of the previous year.

2- The total shareholders’ equity (there is no minority interest) as on March 31, 2022 amounted to 3,262 million SAR, compared to 3,449 million SAR as on March 31, 2021

3- The total comprehensive income for the current quarter amounted to 87 million, compared to 169 million for the same quarter of the previous year.

4- The statement of financial position data as of December 31, 2021 and the statement of profit or loss and other comprehensive for the three-month period ending on March 31, 2021 have been re-presented in line with the requirements of IAS (8) “Change in Accounting Policies, Change in Accounting Estimates and Accounting Errors” in order to recalculate the accrual of limestone extraction expense for the Ministry of Industry and Mineral Resources.

5- Basic earnings per share is calculated based on the profit distributable to shareholders for ordinary shares and using the weighted average for the number of ordinary shares outstanding at the date of the financial statements.

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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