Saudi Eastern Province Cement net profit drops

Saudi Eastern Province Cement net profit drops
Published: 16 September 2011

Saudi cement producer Eastern Province Cement Company (EPC) booked a net profit of SAR184m (US$49.1m) for the first half of 2011, down from SAR196m a year ago.

The earnings per share (EPS) stood at SAR2.14, versus SAR2.28.

The decrease in the company’s bottom-line results was attributed to lower sales.

The operating profit dropped to SAR186 m in the first half of 2011 from SAR193m a year earlier.

For the second quarter of 2011, the company’s net profit was SAR101m, down from SAR104m a year ago.