Saudi Yanbu Cement 1Q net profit drops 17.9% Y0Y

Saudi Yanbu Cement 1Q net profit drops 17.9% Y0Y
Published: 03 June 2011

Saudi cement producer Yanbu Cement Co (YCC) said its net profit for the first quarter of 2011 dropped 17.9% YoY to SAR101.1m (US$26.9m).

Earnings per share (EPS) stood at SAR 0.96, down from SAR 1.17.

The company attributed the decrease in bottom-line figures to lower sales and the temporary shutdown of kiln 4 due to regular maintenance works.