Saudi: Tabuk Cement posts $12.6mln net profits in H1-24

PHOTO

Tabuk Cement Company recorded net profits valued at SAR 47.45 million in the first half (H1) of 2024, higher by 61.89% year-on-year (YoY) than SAR 29.31 million.

Earnings per share (EPS) reached SAR 0.53 as of 30 June 2024, versus SAR 0.33 in H1-23, according to the interim financials.

Revenues climbed by 19.23% YoY to SAR 172.48 million in H1-24 from SAR 144.66 million.

Financials for Q2-24

In the second quarter (Q2) of 2024, the net profits reached SAR 31.34 million, an annual leap of 214.34% from SAR 9.97 million.

The company posted revenues amounting to SAR 85.44 million, up 46.35% YoY from SAR 58.38 million.

Quarterly, the Q2-24 net profits surged by 94.53% from SAR 16.11 million in the January-March 2024 period, while the revenues declined by 1.84% from SAR 87.05 million.