Saudi Yamama Cement boosts net profit 19% YoY

Saudi Yamama Cement boosts net profit 19% YoY
Published: 27 October 2010

Saudi cement producer Yamama Cement Company said it registered a 19% YoY rise in its net profit for the nine months through September 2010 to SAR 497m (US$135.5m) from SAR417m a year ago.

For the third quarter of 2010, the company booked a net profit of SAR140m, an increase of 12% on the year.

The strong increase was attributed to a rise in sales as a result of higher local demand, Yamama Cement said without giving exact figures.

The earnings per share (EPS) stood at SAR3.68, up from SAR3.09.

The gross profit rose to SAR533m from SAR454m.