Tabuk Cement posts SAR 24 mln net profit in FY2019

01/03/2020 Argaam Exclusive

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Tabuk Cement Co. reported a net profit after Zakat and tax of SAR 24.19 million for the fiscal year of 2019, as compared to a net loss of SAR 98.94 million a year earlier.

Financials (M)

Item	2018	2019	Change‬
Revenues	149.45	238.66	59.7 %
Gross Income	(23.59)	54.58	331.3 %
Operating Income	(44.90)	27.34	160.9 %
Net Income	(98.94)	24.19	124.4 %
Average Shares	90.00	90.00	-
EPS (Riyals)	(1.10)	0.27	124.4 %

The company said in a bourse statement that the rise is mainly due to higher sales volumes and improved selling prices, along with increase in other revenues.

Accumulated losses in 2019 stood at SAR 36.70 million, down 41.56% compared to SAR 62.80 million in 2018, the statement also said.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	35.58	66.28	86.3 %
Gross Income	(9.76)	14.01	243.6 %
Operating Income	(16.83)	5.41	132.2 %
Net Income	(32.45)	6.55	120.2 %
Average Shares	90.00	90.00	-
EPS (Riyals)	(0.36)	0.07	120.2 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	58.46	66.28	13.4 %
Gross Income	14.59	14.01	(3.9 %)
Operating Income	9.89	5.41	(45.3 %)
Net Income	5.03	6.55	30.3 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.06	0.07	30.3 %

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