Southern Province Cement Co, Saudi Arabia’s biggest cement firm by market value, said Monday its second-quarter net profit rose 29.2% to SAR239m (US$63.7m) compared with the year-earlier period, due to higher sales and demand.
The result was above the SAR233m that analysts at Riyadh-based NCB Capital had noted in and the SAR237m predicted earlier by the firm.
First-half earnings per share were SAR3.32, compared with SAR2.68 in the year-earlier period, Southern Province Cement said in a statement posted on the Saudi bourse website.
Operating profit in the first six months of the year jumped 30.6% to SAR239m from the year-ago period.
Published under Cement News