Earnings Report /
Saudi Arabia

Southern Province Cement Company: Higher-than-expected prices, a key highlight

  • Revenues declined 33.3% yoy (-1.2% qoq) to SAR284mn, broadly in line with our estimates of SAR272mn

  • We believe better than expected prices is a key positive

  • Gross margins contracted by 200bps yoy to 38.0%, higher than our estimates of 35.1%

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
3 November 2021
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