Saudi Yamama Cement boosts Q1 net profit

Saudi Yamama Cement boosts Q1 net profit
Published: 27 May 2010

Saudi cement producer Yamama Cement Company said it registered a 31% year-on-year surge in its net profit for the first quarter of 2010 to SAR165m (EUR 36m) from SAR126m a year ago.

The strong increase was attributed to a rise in sales, Yamama Cement said without giving exact figures.

The earnings per share (EPS) stood at SAR 1.22, up from SAR 0.93.

The gross profit rose to SAR181m from SAR139m.

In mid-January, Yamama said it registered an 8% YoY decline in its net profit for 2009 to SAR562m from SAR 611m a year earlier.