Cement News tagged under: Tabuk Cement Co

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Tabuk Cement sees 1Q losses

20 May 2022, Published under Cement News

Saudi cement producer Tabuk Cement Co reported revenues of SAR62.18m (US$16.58m), down 19.2 per cent YoY, in the January-March 2022 period, according to the company Net losses after zakat and tax were posted at SAR6.92 in the1Q22, against net profits of SAR10.06m in the 1Q21. In 2021 Tabuk Cement Co posted a 65.6 per cent drop in net profits after zakat and tax to SAR17.76m, compared to SAR51.58m in 2020.

Tabuk Cement sees profits rise 113% in 2020

08 March 2021, Published under Cement News

Saudi Arabia’s Tabuk Cement has seen its net profit surge 113.2 per cent to SAR51.58m (US$13.75m) in 2020, compared with SAR24.19m in the previous year. The increase in profit was driven by a rise in sales and other revenues, alongside a drop in the cost of sales, selling and marketing and financing expenses. Revenues also advanced 15.8 per cent YoY to SAR276.45m from SAR238.66m in 2019.

Tabuk Cement sees sales down 18% YoY

13 August 2020, Published under Cement News

Saudi Arabia’s Tabuk Cement has seen a 94 per cent YoY decline in net profit to SAR0.54m (US$144,000) in the June quarter of 2020, against SAR8.98m in the year-ago period. Sales also declined 18.3 per cent YoY to SAR49.99m from SAR61.15m in the 2Q19.

Tabuk Cement posts SAR24.2m profit in 2019

02 March 2020, Published under Cement News

Saudi-based Tabuk Cement Co has posted a net profit after zakat and tax of SAR24.2m (US$6.45m) in 2019, versus a loss of SAR98.9m in 2018. Sales in 2019 surged 59.8 per cent to SAR238.7m from SAR149.4m in the previous year on the back of increases in sales volumes and higher sales prices.

Tabuk Cement appoints new board members

27 January 2020, Published under Cement News

Saudi Arabia’s Tabuk Cement Co has announced the appointment of Saoud bin Solaiman Al Juhni as its new chairman. Furthermore, the company also nominated new members of the board, including Abdulaziz bin Abdelrahman Al Khamis as deputy chairman. The board is expected to serve for the new term, effective from 26 January 2020 until 25 January 2023.

Tabuk Cement records 48% sales surge in 2Q19

24 July 2019, Published under Cement News

Saudi Arabia’s Tabuk Cement has reported a SAR9m (US$2.4m) net profit for the second quarter of 2019, against a loss of SAR36.1m in the 2Q18. The company’s sales saw a 48.2 per cent YoY surge to SAR61.2m from SAR41.3m. The average selling price across the quarter also improved.

Tabuk Cement posts 3M profit

26 April 2019, Published under Cement News

Saudi cement producer Tabuk Cement Co has returned to profit in the first quarter of 2019, posting a SAR3.63m (US$968,000) net profit. The rise has been attributed to increased revenues and investment returns, according to a company bourse statement. In 2018 the company reported a 316.4 per cent YoY hike in net loss after zakat and taxes to SAR98.84m while revenues fell 10.3 per cent to SAR149.44m.

Saud Suliman Al Juhani new Tabuk Cement board chairman

12 April 2019, Published under Cement News

Saudi Arabia-based Tabuk Cement Co has appointed Saud Suliman Al Juhani as the new chairman of the board, effective 14 April 2019. He replaces Dr Saeed Obaid who stepped down from the post due to other business commitments, said the company in a filing to the Saudi bourse, Tadawul. The company board also appointed Khalid Al Angari as the new vice chairman. The current board term ends on 25 January 2020.

Tabuk Cement wins clinker export order to Yemen

22 March 2019, Published under Cement News

Tabuk Cement of Saudi Arabia has won an order to export 500,000t of clinker to Golden Oil Co in Yemen. The contract will conclude by the end of 2019, according to a bourse statement. The financial impact will be reflected in Tabuk Cement's financial business report in the 2Q19. Tabuk Cement operates an integrated cement plant at Duba port producing 1.2Mta of cement.

Saudi producers to benefit from Neom Bay construction start-up

21 January 2019, Published under Cement News

Saudi Arabia will start developing the first major area of Neom, the kingdom's multi-billion dollar mega-city, from 1Q19. The founding board of Neom, chaired by Crown Prince Mohammed bin Salman, approved the concept of the masterplan for ‘Neom Bay’ which will be the first residential area to be developed in the city. The construction work will be completed in 2020. The full implementation phase of the US$500bn Neom project could potentially bring in more than 20Mta of cement demand at its...