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Partial Financial Statements - 1st Quarter 2008

Tabuk Cement Company has announced its partial financial statements for the 1st Qtr of the year 2008. The following is a presentation of the balance sheet and income statement. (Negative values are in red):

Balance Sheet
	31/03/2008	31/03/2007
Assets
Current Assets
Cash and Bank Balances	4,886,402	12,875,572
Short-Term Investments	522,900,000	286,283,526
Debited Balances and Accounts Receivables	25,237,519	10,445,275
Inventory	99,975,168	97,486,213
Total Current Assets	652,759,089	407,090,586
Investments	67,499,990	67,499,990
Fixed Assets - Net	678,760,670	728,000,390
Capital Works Under Construction	5,641,198	2,694,960
Deferred Charges - Net	7,175,502	11,621,651
Total Assets	1,411,836,449	1,216,907,577
Liabilities and Shareholders' Equity
Current Liabilities
Accounts Payable and others	18,925,626	33,990,587
Dividends Payable & Other accruals to the Shareholders	72,018,993	74,599,421
Dividends Proposed for Distribution	225,000,000	-
Current Installment - SIDF Loan
Provision for Zakat and Income Tax	7,133,762	7,284,336
Total Current Liabilities	323,078,381	115,874,344
Long Term Loan SIDF
End of Service Benefits	7,449,729	6,453,182
Total Liabilities
Shareholders' Equity
Capital	900.000.000	900.000.000
Statutory Reserve	109,851,321	88,478,493
Retained Earnings	71,457,018	106,101,558
Total Shareholders' Equity	1,081,308,339	1,094,580,051
Total Liabilities & Shareholders' Equity	1,411,836,449	1,216,907,577

Income Statement
	Year 2008	Year 2007
Net Sales	90,082,917	91,480,498
Cost of Sales (-)	(39,898,490)	(32,476,320)
Gross Profit	50,184,427	59,004,178
Selling & Marketing Expenses	(472,563)	(428,407)
General and Administrative Expenses	(2,835,417)	(2,754,018)
Total Expenses	(3,307,980)	(3,182,425)
Net Income of Main Activity	46,876,447	55,821,753
Other Income (Expenses)	5,000,427	2,889,774
Other Income
Financing Expenses
Total Other Income (Expenses)
Period's Net Income before Zakat	51,876,874	58,711,527
Provision for Zakat	(1,296,922)	(1,467,788)
Net Income for Period	50,579,952	57,243,739
Share Revenue	.56	.64