Tabuk Cement first-half net profit edges ahead

Saudi-based producer Tabuk Cement reported a net profit of SAR107m (US$28.5m) for the first half of 2013, up 1.04 per cent from the SAR105.9m in the same period of the year before.

The company attributed the rise to cost rationalisation, but did not disclose any exact figures.

Earnings per share stood at SAR1.19 almost unchanged SAR1.18m.

The company’s operating profit declined to SAR105.5m in January-June 2013, compared with SAR108.9m in the same period of last year.