Riyadh – Mubasher: Tabuk Cement Company logged net profits after Zakat and tax worth SAR 3.36 million in the first nine months (9M) of 2022, an annual plunge of 80.71% from SAR 17.42 million.

The Saudi listed firm registered SAR 210.11 million in revenue during January-September 2022, higher by 20.60% year-on-year (YoY) than SAR 174.22 million, according to the initial income statements.

Furthermore, the earnings per share (EPS) retreated to SAR 0.04 in 9M-22 from SAR 0.19 in 9M-21.

In the third quarter (Q3) of 2022, the net profits after Zakat and tax of Tabuk Cement reached SAR 7.79 million, down 8.14% from SAR 8.48 million in Q3-21.

Revenues widened by 53.50% YoY to SAR 73.68 million in Q3-22 from SAR 48 million.

On a quarterly basis, the Q3-22 net profits after Zakat and tax enlarged by 212.85% from SAR 2.49 million in Q2-22, while the revenues edged down by 0.77% from SAR 74.25 million.

In the January-June 2022 period, the company turned to net losses after Zakat and tax worth SAR 4.43 million, against net profits of SAR 8.93 million during the same period in 2021.