Yamama Cement expects 19% profit rise, Saudi Arabia

Yamama Cement expects 19% profit rise, Saudi Arabia
Published: 03 January 2012

Saudi Arabia’s Yamama Cement estimated fourth quarter profits would be 19 per cent higher on Tuesday, partly on higher sales.

Yamama said estimated net profit was SAR191m (US$50.9m) in the quarter ended December 30, up from SAR160m in the prior-year period, according to a statement said.

On the year, it had estimated profit of SAR740m, up 13 per cent from SAR657m in 2010.

Estimated operating profit for the fourth quarter also rose 19 per cent to SAR179m, from SAR166m a year earlier.