Saudi Tabuk Cement boosts net profit

Saudi Tabuk Cement boosts net profit
Published: 14 July 2010

Saudi cement producer Tabuk Cement Company (TCC) said yesterday it booked a net profit of SAR75.7m (US$20.2m) for the first half of 2010, up from SAR71.3m a year earlier.
The earnings per share (EPS) stood at SAR 0.38, slightly up from SAR 0.37.
The gross profit rose to SAR79.8m, up 9.5% on the year, while the operating profit came in at SAR72.7m, up 11.7%.
The improvement was attributed to a combination of higher sales and lower expenses, the company said without giving exact figures.
For the second quarter of 2010, TCC registered a 10% year-on-year increase in net profit to SAR41.7m from SAR 37.8m in the same period last year.