Southern Province profits fall 13% as rivals gain

Southern Province profits fall 13% as rivals gain
Published: 17 July 2010

Eastern Province Cement and Southern Province Cement experienced very different second quarters as the two suppliers posted a 1% gain and a 13% fall in net profits compared to last year.

The two companies notified the Saudi stock exchange at the beginning of this week. Damman-based Eastern Province saw profits rise to SR104 million, whereas Southern Province, the biggest manufacturer in the Kingdom, saw net gains fall to SR185m from SR212m between April and June 2009.