Saudi Tabuk Cement 9-month net profit down to US$25.5m

Saudi Tabuk Cement 9-month net profit down to US$25.5m
Published: 07 December 2009

Saudi cement producer Tabuk Cement Company (TCC) registered a decline in its net profit for the first nine months of 2009 to SAR 95.6m (US$25.5m) from SAR 142.3m a year ago.
 
The decrease was chiefly due to a decline in average sales prices during the nine-month period, TCC said without giving exact figures.
 
The earnings per share (EPS) stood at SAR 1.06, down from SAR 1.58.
 
For the third quarter of 2009, the company’s net profit rose to SAR 24.2 million, up 45% year-on-year.