Riyadh – Mubasher: Tabuk Cement Company’s net profits surged by 113.2% in the year 2020, standing at SAR 51.58 million from SAR 24.19 million in 2019.
The leap in the Tadawul-listed company's annual profit was driven by various factors such as a rise in sales revenues and other revenues and a drop in cost of sales, selling and marketing expenses, and financing expenses, according to a stock exchange statement on Sunday.
Revenues hiked by 15.8% in 2020 to SAR 276.45 million, compared with SAR 238.66 million in 2019.
