Riyadh – Mubasher: Tabuk Cement Company turned profitable at SAR 19.35 million in the first quarter (Q1) of 2023, against net losses after Zakat and tax worth SAR 6.92 million in Q1-22.
The Saudi firm generated SAR 86.28 million in revenue as of 31 March 2023, up 38.76% year-on-year (YoY) from SAR 62.18 million, according to the income statements.
Earnings per share (EPS) amounted to SAR 0.21 in Q1-23, compared to a loss per share valued at SAR 0.08 in Q1-22.
On a quarterly basis, the Q1-23 net profits after Zakat and tax grew by 9.88% from SAR 17.61 million in Q4-22, while the revenues dropped by 1.33% from SAR 87.44 million.
Last year, Tabuk Cement posted an 18.07% surge in net profit after Zakat and tax to SAR 20.97 million, compared to SAR 17.76 million in 2021.
