Southern Province Cement Co. announces its Annual Financial results for the period ending on 2023-12-31

17 March 2024 03:53 PM

SPCC 3050 -7.11% 37.90 -2.90

Element List	Current Year	Previous Year	%Change
Sales/Revenue	1,070	1,222	-12.44
Gross Profit (Loss)	277	361	-23.27
Operational Profit (Loss)	203	299	-32.11
Net profit (Loss)	195	301	-35.22
Total Comprehensive Income	200	299	-33.11
Total Share Holders Equity (After Deducting the Minority Equity)	3,286	3,206	2.5
Profit (Loss) per Share	1.4	2.15
All figures are in (Millions) Saudi Arabia, Riyals

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

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year	The decrease in sales is due to lower demand and a lower average selling price
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The decrease in net profit for the current year compared to the previous year is due to decrease in sales revenues and an increase in general, administrative, and marketing expenses
Statement of the type of external auditor's report	Unmodified opinion
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)	None
Reclassification of Comparison Items	Some comparative figures have been reclassified to tally with current presentation.
Additional Information	5- Basic earnings per share is calculated based on the distributable profit for ordinary shares using the weighted average number of ordinary shares outstanding at the date of the financial statements.

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