Saudi Arabia: Yanbu Cement expects second-half increase

Saudi Arabia: Yanbu Cement expects second-half increase
Published: 11 July 2011

Yanbu Cement Company expects net profits for the second quarter and the half year to be higher than last year.

The listed suppliers will see net profits rise by 32.7% and 6.55% respectively for the last three months against the same periods in 2010.

Yanbu Cement expects after-tax gains for the second quarter to reach US$40m (SAR150m), up almost a third from the US$30.13m (SAR113m) posted last year and up 4.5% against the first quarter 2011, with gross and operating profits rising 30% and 29% during this time. Net profit for the six months reached US$66.93m (SAR251m), an increase of 5.9% against the first six months last year, following gross profits of US$71.73m (SAR 269m), up 7.6%.