Saudi cement producer Tabuk Cement Company (TCC) posted a net profit of SAR34m(US$9.1m) for the first quarter of 2005, up from SAR25.6m (US$6.8m) in the year-ago period, according to the company’s board chairman Khalid Salih al-Shatri.
The increase came on the back of a 12.8 per cent sales rise to SAR73.3m (US$19.5m) in the first three months of 2005. Gross profit grew 29.5 per cent to SAR38.8 m (US$10.3m) for January to March 2005. TCC’s management board has proposed a 15 per cent cash dividend for 2004, equal to SAR7.5 ($2.0) per share.
