Tabuk Cement H1 2024 profit up 62% to SAR 47.5M; Q2 at SAR 31.3M

07/08/2024 Argaam Exclusive

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Tabuk Cement Co. reported a net profit of SAR 47.5 million in H1 2024, a 62% jump from SAR 29.3 million in a year-earlier period on higher sales value and volumes.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	144.66	172.49	19.2 %
Gross Income	45.57	52.08	14.3 %
Operating Income	30.35	35.67	17.6 %
Net Income	29.31	47.45	61.9 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.33	0.53	61.9 %

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	58.38	85.44	46.3 %
Gross Income	14.96	29.31	95.9 %
Operating Income	7.67	21.03	174.4 %
Net Income	9.97	31.34	214.4 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.11	0.35	214.4 %

Item	Q1 2024	Q2 2024	Change‬
Revenues	87.05	85.44	(1.8 %)
Gross Income	22.77	29.31	28.7 %
Operating Income	14.64	21.03	43.7 %
Net Income	16.11	31.34	94.5 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.18	0.35	94.5 %

Q2 2024 net profit more than tripled to SAR 31.3 million, from SAR 9.97 million in the year earlier period, on higher sales value and volume, in addition to increased other revenue.

On a quarterly basis, Q2 2024 net earnings surged by 94.5% from SAR 16.11 million in Q1 2024.

Total shareholders’ equity (no minority interest) reached SAR 1.31 billion by June 30, 2024, compared to SAR 1.30 billion in the corresponding period of the year before.

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