Tabuk Cement posts 9% increase in net profit, Saudi Arabia
Saudi-based Tabuk Cement Company has posted a 9.37% net profit for the year to date.
In a statement to the Tadawul, the company revealed that it had realised a net profit of US$29m (SAR108.85m) for the nine month period ending September 30, 2011 – a considerable jump over the US$26.53m (SAR99.52m) it made during the first nine months of 2010.
Third quarter sales were up year on year to US$6.59 (SAR24.72m) from US$6.34 (SAR23.79), but down 42.40% on second quarter results. The company put that down to lower sales during Ramadan and the Eid holiday.
