Saudi Yamamah Cement Q2 profit rises
Saudi Arabia’s Yamamah Cement Co said on Sunday second-quarter net profit rose 12.5 per cent on higher sales, beating all analysts’ forecasts.
Yamamah, Saudi Arabia’s third-largest cement maker by market value, made a net profit of SAR227.8m (US$60.7m) in the three months to June 30 compared with SAR202.5m a year earlier, it said in a statement on the bourse website.
"This growth in profit is due to an increase in the company’s sales volume," Yamamah said.
The quarterly earnings came ahead of all three forecasts in a Reuters net profit survey last month, ranging from SAR210.9m to SAR219.6m. Published under Cement News
