Qassim Cement 1H’09 net profit at US$79.9m

Qassim Cement 1H’09 net profit at US$79.9m
Published: 16 July 2009

Saudi cement producer Qassim Cement Co (QCC) registered a decline in its net profit for the first half of 2009 to SAR299.7m (US$79.9m/) from SAR312.2m a year ago.

The earnings per share (EPS) stood at SAR 6.66, down from SAR 6.94.

The operating profit remained almost unchanged at SAR300.3m for the first six months of 2009, from SAR300.4m a year earlier.

For the second quarter of 2009, the company posted a net profit of SAR148.2m, down 2.44% YoY.