Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Saudi Ceramics recorded a negative revenue growth for the fourth quarter in a row. Q4 2016 sales amount to SAR350m, a 15% yoy decline that brought total revenues registered during FY2016 to SAR1.304bn (-21.4% yoy, a negative growth for the first time in the last 10 years). The cost of sales fell at a slower rhythm than revenues, i.e. -12.4% to stand at SAR942.591m. The gross margin lost 744 bps to 27.66%.
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During Q3 2016, Saudi Ceramics registered tumbling revenues by 34.45% yoy at SAR232.441m, bringing total revenues recorded since the beginning of the year to fall by 23.5% to SAR953.091m vs. SAR1.245bn as of 9M 2015. The cost of sales also declined by 25.879% to SAR177.818m on the back of a slowing activity. The gross margin, in spite of lowering costs, has lost 892 bps to stand at 23.5% vs. 32.42% in Q3 2015.
Saudi Ceramics achieved a disappointing Q2 2016, with a net profit amounting to a poor SAR28.344m, a decline of 65.11% yoy and of 41% compared to last quarter, bringing the net result related to H1 2016 to decrease by 53.86% yoy, reaching SAR76.362m. The operational profit stood at SAR36.680m vs. SAR85.996m in Q2 2015.
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