Riyadh – Mubasher: The net profit after Zakat and tax of Tabuk Cement Company shrank by 93.99% in the second quarter (Q2) of the year, standing at SAR 540,000, compared with SAR 8.98 million in the year-ago period.
The decline in the quarterly profits is attributed to lower net sales because of the coronavirus pandemic and lower other income, according to a stock exchange disclosure on Wednesday.
In the meantime, the company did not receive any gains from investments during Q2-20 and adjusted the cash flows for financial liability.
Revenues registered SAR 49.99 million in Q2-20, a decline of 18.25% when compared to SAR 61.15 million in Q2-19.
Source: Mubasher
All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
