Tabuk Cement slips into $2m losses as sales dropped in Q1

The cement producer turned into losses from a profit of SR10 million in the same period of last year. (Supplied)

RIYADH: Saudi Arabia’s Tabuk Cement Co. slipped into losses of SR7 million ($2 million) in its first-quarter earnings after sales dropped 19 percent.

The cement producer turned into losses from a profit of SR10 million in the same period of last year, according to bourse filling. 

The results were primarily impacted by a decrease in average selling price and an increase in the cost of revenues resulting from the periodic maintenance of the plant.