Saudi Yamama Cement boosts nine-month net profit 10% YoY

Saudi Yamama Cement boosts nine-month net profit 10% YoY
Published: 09 December 2011

Saudi cement producer Yamama Cement Company said it registered a 10% YoY rise in its net profit for the nine months through September 2011 to SAR549m (US$146.4m) from SAR497m a year ago.

For the third quarter of 2011, the company booked a net profit of SAR149m, an increase of 6% on the year.

The strong increase was attributed to a rise in sales as a result of higher local demand, Yamama Cement said without giving exact figures.

EPS stood at SAR 4.06 in January-September 2011, up from SAR 3.68 in the same period last year.
The gross profit rose to SAR 597m from SAR 533m.