Tabuk Cement turns to $1.2mln losses in H1-22; accumulated losses unveiled


Tabuk Cement Company has registered net losses after Zakat and tax worth SAR 4.43 million during the first half (H1) of 2022, versus a net profit of SAR 8.93 million in H1-21.

Revenues surged by 8.10% year-on-year (YoY) to SAR 136.43 million in H1-22, compared to SAR 126.21 million, according to the initial income statements.

The loss per share stood at SAR 0.05 in the first six months (6M) of 2022, against earnings per share (EPS) of SAR 0.10 in the year-ago period.

Meanwhile, the Saudi listed firm incurred accumulated losses worth SAR 2.79 million as of H1-22, accounting for 0.31% of the SAR 900 million capital.

During the second quarter (Q2) of 2022, Tabuk Cement turned to net profits after Zakat and tax of SAR 2.49 million, against net losses of SAR 1.13 million in Q2-21.

The revenues jumped by 50.73% YoY to SAR 74.25 million in Q2-22 from SAR 49.26 million,

In the January-March 2022 period, the company suffered net losses after Zakat and tax worth SAR 6.92 million, compared to net profits of SAR 10.06 million during the same period a year earlier.