Saudi Southern Province Cement boosts net profit

Saudi Southern Province Cement boosts net profit
Published: 25 August 2011

Saudi cement producer Southern Province Cement, or SPC, said its net profit for the first six months of 2011 rose 24% YoY, to SAR465m (US$124m) from SAR375m a year ago.

The company attributed the increase to a rise in sales.

The earnings per share (EPS) stood at SAR 3.32, up from SAR 2.68.

The operating profit increased to SAR469m for the first half of 2011 from SAR 377m in the same period last year.