Yanbu 3Q profit falls 4.1%, Saudi Arabia

Yanbu 3Q profit falls 4.1%, Saudi Arabia
Published: 06 October 2010

Yanbu Cement, a Saudi Arabian cement maker, said third-quarter profit declined 4.1 per cent on lower sales and production.

Net income fell to SAR94m (US$25.1m), from SAR98m a year ago, the Jeddah, Saudi Arabia-based company said in a statement on the Saudi bourse website. Third-quarter operating profit dropped 5.8 per cent to SAR97m.

Saudi cement production declined 5.6 per cent in August to 3.05Mt, compared with 3.23Mt during the same month last year, according to industry data provided on the website of Yamamah Saudi Cement Co. Exports dropped 4.3 per cent to 134,000t in August, according to the data.