News & Announcements

TCC

19 May, 2024 07:46

Tabuk Cement Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	87.05	86.28	0.892	66.29	31.316
Gross Profit (Loss)	22.77	30.61	-25.612	2.07	1,000
Operational Profit (Loss)	19.96	22.68	-11.992	3.64	448.351
Net profit (Loss)	16.11	19.35	-16.744	-5.42	-
Total Comprehensive Income	15.17	18.37	-17.419	-27.49	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (After Deducting the Minority Equity)	1,306.62	1,302.25	0.335
Profit (Loss) per Share	0.179	0.215
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Percentage of the capital (%)	Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The reason for increase in sales/revenue during the current quarter compared to the sales/revenue for the same quarter of the previous year is due to: Increase in sales quantities .
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for decrease in net profit during the current quarter compared to the net profit for the same quarter of the previous year is due to: 1. Decrease in the average selling prices . 2. Increase in cost of sales .
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The reason for increase in sales/revenue during the current quarter compared to the sales/revenue for the previous quarter is due to: 1. Increase in sales quantities . 2. Increase in the average selling prices .
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The reason for increase in net profit during the current quarter compared to the net profit for the previous quarter is due to: 1. Increase in sales value & quantities . 2. Increase in the average selling prices .
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	N/A
Reclassification of Comparison Items	Restated : The company's management made an amendment to the financial statements in the period as follows :- (1) Statement of the profit or loss and other comprehensive income for the first quarter of 2023 , valuation of derivative financial instruments , specifically interest rate swap , which are used hedge risks associated with interest rate fluctuations . In accordance with the company's policy , these derivative instruments are designated as cash flow hedges. When a derivative instrument contract is initiated , it initially recorded at fair value . They are then remeasured at fair value , with any resulting differences affecting financial position accordingly . Financial derivatives are recognized as assets where their fair value is positive ( Note 24) . (2) Statement of financial position as of January 1 , 2023 and December 31 , 2023 , Recording prior year's Zakat allocation , as the Zakat , Tax , and Customs Authority released zakat assessments for the years 2019 to 2022 , resulting in additional zakat discrepancies of 4.731.427 Saudi Riyals . These discrepancies are caused by the failure to incorporate some things in the calculation of the returns fiiled by the company's managment to the authority at the time specified by the system . The Authority deemed this to be an accounting error . It was added to the financial statement for the year's corresponding to these assessments . The amendment relates to the year's 2019 , 2021 , and 2022 ( Note 24 ) .
Additional Information	Unrealized losses during the previous quarter , were recorded amount to (17.978.890) Saudi riyals within the other comprehensive income items that will not be reclassified later under profit or loss , and these losses result from re-measurement of investments in equity instruments fair value .

Other Announcements

MEYAR

2024-06-02

Meyar Co. Board invites its shareholders to attend the Extraordinary General Assembly Meeting the (First Meeting)

2024-06-02

National Environmental Recycling Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the (First Meeting) via modern technology