Saudi Arabian Cement Co 1H net profit rises

Saudi Arabian Cement Co 1H net profit rises
Published: 02 September 2011

Saudi cement producer Arabian Cement Company (ACC) saw its net profit for the first half of 2011 surge by 39.8% YoY to SAR227.8m (US$60.7m).

Earnings per share (EPS) stood at SAR2.85, up from SAR2.04.

The company attributed the increase in bottom-line figures to rising production and sales volumes, but did not give exact figures.

The operating profit surged by 49.4% to SAR249.2m for the first six months of 2011.

For the second quarter of 2011, the company registered a net profit of SAR111.7m, an increase of 37.5% YoY.