Riyadh – Mubasher: Tabuk Cement Company announced a year-on-year (YoY) plunge of 55% in net profits after Zakat and tax at SAR 17.42 million during the first nine months of 2021, compared to SAR 38.92 million.
Earnings per share went down to SAR 0.19 at the end of September this year from SAR 0.43 in the same period a year ago, according to the initial financial results on Wednesday.
Sales declined by 11.5% YoY to SAR 174.22 million in January-September 2021 from SAR 196.9 million.
During the third quarter (Q3) of 2021, Tabuk Cement registered net profits worth SAR 8.48 million, down by nearly 10.5% from SAR 9.47 million in Q3-20.
Revenues shrank by 32.8% YoY to SAR 48 million in Q3-21 from SAR 71.49 million.
Quarter-on-quarter (QoQ), the net profits in Q3-21 were 348.6% higher than SAR 1.89 million in Q2-21, while the revenues declined by 2.5% from SAR 49.26 million.
