Yanbu Cement 1Q09 net profit seen down 10%

Yanbu Cement 1Q09 net profit seen down 10%
Published: 08 April 2009

Saudi cement producer Yanbu Cement Co (YCC) said yesterday in a statement to the Saudi bourse it expects a 10% YoY decline in net profit to SAR152m (US$40.5m) in the first quarter of 2009.

The projected decrease is based on the lower sales during the three-month period, YCC said without giving exact figures.

The earnings per share (EPS) are expected at SAR1.45, down from SAR1.60. YCC sees its operating profit for the first quarter of 2009 reaching SAR154m, down from SAR SAR168m.

Source: Middle East and Africa News Digest