Tabuk Cement Company, the newest cement firm in Saudi Arabia, was established in 1994. Shares in the company were floated in the spring of 1994. It has paid-in capital of SR 700 million ($187 million), all of it subscribed by the private sector.

The company started producing cement at the end of 1998. Contracts to build a 1.1 million-tonne-a-year (t/y) cement plant in Duba on the Red Sea coast north of Yanbu were awarded in 1994. The plant was due to have been completed at the end of 1997, though 1998 production was limited to 36,000 tonnes of cement and 299,000 tonnes of clinker.

A total of 29,000 tonnes of cement was sold on the domestic market. The company has reported profits since it was launched as a result of its investment activities. Net profit hit a peak of SR 53 million ($14 million) in 1995, but the figure fell by more than 50 per cent in the next 12 months as investment in the cement plant peaked.

The decline continued in 1997 with profits falling to SR 11.6 million ($3.1 million) as income from investments continued to fall. At the end of the year, shareholders' equity stood at SR 788 million ($210 million), slightly up on 12 months earlier.

Total assets grew by 16 per cent in 1998 to stand at SR 1,321 million ($352.3 million), up from SR 1,141 million ($304.2 million) at the end of 1997. The company reported a net profit of SR 2.6 million ($690,000) in 1998, again entirely due to investment activities.

In September, the company announced it had won an order from Lebanon's Universal Bulk Holdings to supply 100,000 tonnes of cement to Sudan. The company says it plans to increase the order to 300,000 tonnes.

Plans for the company call for production to be lifted to 6 million t/y.

Individuals	N/A
Institutions	N/A
Floating	N/A
Government	N/A

	2004	2003	2002
Total Assets	1,116,332	1,120,090	1,171,732
Shareholder's Equity	811,599	790,009	786,006
NIAT	128,590	75,658	78,757
Dividends	105,000	70,000	35,000

	2004	2003	2002
Assets Growth	-0.34%	-4.41%	-3.32%
Earning Growth	69.96%	-3.93%	36.50%
ROaA	11.50%	6.60%	6.61%
ROaE	16.06%	9.60%	10.06%
No. Of Shares	14,000,000	14,000,000	14,000,000
EPS	9.19	5.40	5.63
EPS Growth	69.96%	-3.93%	36.50%
Payout Ratio	81.655	92.522	44.441

	Trailing
PE
PB
DVPS
Div Yield
EV
EV/Equity

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