Riyadh – Mubasher: Tabuk Cement Company witnessed 648.74% higher net profits after Zakat and tax at SAR 25.16 million during the first nine months (9M) of 2023, compared to SAR 3.36 million in 9M-22.

The earnings per share (EPS) hit SAR 0.28 in 9M-23, up year-on-year (YoY) from SAR 0.04, according to the interim financial results.

Revenues declined by 5.39% YoY to SAR 198.79 million as of 30 September 2023 from SAR 210.11 million.

Financials for Q3-23

In the third quarter (Q3) of 2023, the listed company turned to net losses valued at SAR 4.15 million, against net profits worth SAR 7.79 million in Q3-22.

The revenues hit SAR 54.13 million in July-September 2023, lower by 26.54% YoY than SAR 73.68 million.

On a quarterly basis, the Saudi firm also shifted to net losses compared with profits of SAR 9.97 million in the April-June 2023 period, while the revenues fell by 7.28% from SAR 58.38 million.