Tabuk Cement rises to US$15.6m

Tabuk Cement rises to US$15.6m
Published: 26 July 2004

Saudi cement producer Tabuk Cement Company (TCC) posted a net profit of 58.5 mln Saudi riyals (US$15.6m) for the first half of 2004, up by 75 per cent year-on-year.  TCC’s sales stood at 140 mln riyals (US$37.3m), up 34 per cent, while operating revenue rose 79 per cent to 59.4 mln riyals (US$15.8m). The company’s total assets stood at 1.1 bln riyals (US$293m), down 2.4 per cent, while shareholders’ equity increased 3.6 per cent to 848.5 mln riyals ($226.3m).