Saudi Southern Province nine-month net profit jumps

Saudi Southern Province nine-month net profit jumps
Published: 11 November 2011

Saudi cement producer Southern Province Cement (SPC), said its net profit for the nine months to September 2011 surged 30.6% YoY, to SA 645m (US$172m) from SAR 494m a year ago.

The company attributed the increase to a rise in sales, but did not give exact figures.

The earnings per share (EPS) stood at SAR 4.61, up from SAR 3.52.

The operating profit increased to SAR654m for January-September 2011 from SAR501m in the same period last year.