Tabuk Cement achieves a net profit of 23 million riyals during Q3

Tabuk Cement Company achieved a net profit of 23 million riyals during the third quarter compared to a loss of 4.15 million riyals in the same quarter of last year, following the announcement today of the preliminary consolidated financial results for the period ending September 30, 2024 (9 months).

The operating profit amounted to 19 million riyals in the third quarter compared to a loss of 2.3 million riyals in the same quarter of the previous year.

As for the net profit in the current period, it amounted to 71 million riyals compared to 25 million riyals in the same period of last year, with a growth of 180%.

The earnings per share in the current period amounted to 0.78 riyals compared to 0.28 riyals in the same period of last year.

The company said in a statement that the main reason for the increase in sales during the current quarter compared to the same quarter of the previous year is due to the increase in sales volume.