Tabuk Cement’s profit dips by 17% YoY in Q1-24

Tabuk Cement’s profit dips by 17% YoY in Q1-24

Riyadh – Mubasher: Tabuk Cement Company’s net profit decreased by 16.74% year-on-year (YoY) to SAR 16.11 million in the first quarter (Q1) of 2024 from SAR 19.35 million.

Revenues inched higher by 0.89% YoY to SAR 87.05 million in Q1-24 from SAR 86.28 million, according to the interim financial results.

The earnings per share (EPS) amounted to SAR 0.179 in the three-month period that ended on 31 March 2024, from SAR 0.215 in the corresponding period a year earlier.

Quarter-on-quarter (QoQ), the company turned to profitability in Q1-24, against a net loss of SAR 5.42 million, while the revenues soared by 31.31% from SAR 66.29 million.

Tabuk Cement posted a 5.87% YoY increase in net profit to SAR 19.74 million during 2023 from SAR 20.97 million.

Tabuk Cement’s profit dips by 17% YoY in Q1-24