Yanbu Cement Q2 net hits US$40.2m

Yanbu Cement Q2 net hits US$40.2m
Published: 07 July 2009

Saudi-based Yanbu Cement Company has posted a net profit of SR151m (US$40.27m) in the three months to June 30, when compared to SR149m (US$39.7m) a year earlier.

In a statement on Saudi bourse website on Monday, Yanbu said its second quarter net profit rose 1.3 per cent. Yanbu gave no reason for the quarterly decline, saying only a 4.7 percent fall in first-half net profit to SR317m was due to lower sales.

Yanbu Cement plans to spend SR1.5bn to raise its production capacity by 48 per cent by 2011, its top executive said last month