Saudi Cement Co nine-month net profit rises

Saudi Cement Co nine-month net profit rises
Published: 29 November 2010

Saudi Cement Company (SCC) said its net profit for the nine months through September 2010 rose 14.6% YoY, to SAR507.5m (US$135.3m) from SAR 442.8m a year earlier.

The earnings per share (EPS) stood at SAR 3.32, up from SAR 2.89.

The operating profit increased to SAR523.7m for the first nine months of 2010, from SAR450.8m a year ago.

For the third quarter, the company reported a net profit of SAR140.3m, an increase of 14% year-on-year.

In mid-May, SCC approved a 50% capital hike to SAR1.53bn from SAR1.02bn.