Yamamah Saudi Cement net profit rises 15%

Yamamah Saudi Cement net profit rises 15%
Published: 14 July 2011

Yamamah Saudi Cement Company said net profits rose 15% for the second quarter and 12% for the half-year against the same periods last year.

Saudi Arabia’s third largest supplier, which focuses on the Riyadh province, said after-tax gains reached $58.66 (SAR 220m) for the last three months, against US$51.19 (SAR 192m) last year and US$47.99 (SAR 180m) in the first quarter of 2011. Gross profits rose 17% to $62.12 (SAR 233m) and operating profits rose 16% to US$58.12m (SAR 218m) against last year.

Six-month net profits rose 12% to US$106.66m (SAR 400m) against US$95.19m (SAR 357m) gained in the first half of last year, though this was down around 1% from the company’s preliminary estimate published last month. Gross and operating profit both rose 13%.