Riyadh – Mubasher: Tabuk Cement Company turned profitable at SAR 29.31 million in the first half (H1) of 2023, versus net losses after Zakat and tax valued at SAR 4.43 million in H1-22.
Revenues grew by 6.03% year-on-year (YoY) to SAR 144.66 million as of 30 June 2023 from SAR 136.43 million, according to the interim financial results.
In the first six months (6M) of 2023, the earnings per share (EPS) stood at SAR 0.33, against a loss per share of SAR 0.05 in the year-ago period.
Income Statements for Q2-23
The Saudi firm recorded a 300.40% surge in net profit to SAR 9.97 million during the second quarter (Q2) of 2023, compared to SAR 2.49 million in Q2-22.
Meanwhile, the revenues hit SAR 58.38 million in the April-June 2023 period, lower by 21.37% YoY than SAR 74.25 million.
On a quarterly basis, the profits in Q2-23 plummeted by 48.48% from SAR 19.35 million as of 31 March 2023, while the revenues dropped by 32.34% from SAR 86.28 million.
