Saudi Southern Province Cement 1Q net profit rises

Saudi Southern Province Cement 1Q net profit rises
Published: 14 June 2011

Saudi cement producer Southern Province Cement (SPC) said its net profit for the three months through March 2011 rose 19.1% YoY, to SAR 225.9m (US$60.2m) from SAR189.6m a year ago. The company attributed the increase to higher sales volumes. The earnings per share (EPS) stood at SAR1.61, up from SAR1.36. The operating profit increased to SAR229.7m for the first quarter of 2011, from SAR 193.8m a year ago.