Tabuk Cement sees rising profit in 1Q

Saudi-based Tabuk Cement posted a rise in net profit after zakat and tax to SAR28.91m (US$7.7m) in the 1Q20, from SAR3.63m a year ago.

Sales in the 1Q20 advanced by 42.9 per cent to SAR75.42m from SAR52.77m in the 1Q19 with volumes rising.

Finance, and selling and marketing costs fell while the company saw gains from adjusting cash flows for a financial liability, according to Reuters.