Arabian Cement half-year net profits rise 40%, Saudi Arabia

Arabian Cement half-year net profits rise 40%, Saudi Arabia
Published: 18 July 2011

Arabian Cement Company said net profits for the second quarter and half-year rose 37.5% and almost 40%, respectively, as increased production helped it capitalise on the demand for the material despite losses for a subsidiary.

The company said post-tax profits reached SAR111.7m ($30m) over the last three months, far ahead of the SAR81.2m 9 ($21.6m)posted in last year’s second quarter, though this is down slightly against this year’s first quarter. Gross profit rose 46% to SAR139.3m ($37.1m), with operating profit rising by a similar percentage.

Net profit for the first six month of the year reached SAR227.8m 9$60.7m), up 39.8% against the SAR162.9m (US$43.4m) last year.