Southern Province 2008 net profit up 12.4% YoY

Southern Province 2008 net profit up 12.4% YoY
Published: 11 March 2009

Saudi cement producer Southern Province Cement (SPC) managed to boost its net profit to SAR791.1m (US$210.9m) in 2008 from SAR703.9m in 2007, or an increase of 12.4% YoY, the company said in a filing to the Saudi Stock Exchange.

SPC attributed the increase to higher sales and other income but did not give exact figures.

The earnings per share (EPS) stood at SAR 5.65, up from SAR 5.03.

The company reported a 4.3% year-on-year decline in the operating profit to SAR720.9min 2008.