Riyadh – Mubasher: Tabuk Cement on Wednesday announced a 59.2% decrease in net profits during the first quarter of 2017, compared to the same quarter last year, according to a bourse filing.
Net profits fell to SAR 8.7 million in Q1-17, compared to SAR 21.3 million in Q1-16.
The company attributed the year-on-year profit fall in Q1-17 to a decline in the amounts and value of sales and higher financial costs.
Tabuk Cement’s sales amounted to SAR 57.5 million in the period between January and March, compared to SAR 75.5 million in the same period in 2016, the statement showed.
