Saudi Cement net profit in 1Q08 up by 2.5% YoY

Saudi Cement net profit in 1Q08 up by 2.5% YoY
Published: 28 April 2008

Saudi Cement Company’s first quarter income rose by 2.7% YoY on higher sales, though the growth in profit is one of the industry’s lowest. It made a net profit of SAR173.3m in January to March 2008 quarter up by 2.5% YoY as against SAR169m in January to March 2007 quarter.

Saudi Cement’s production stood at 5.3Mt in 2007 and about 22% of the production was exported in 2007. In contrast, Yamamah Cement, the third largest cement firm by market value and second largest by production, made a first quarter net profit of SAR197.5m up by 14% YoY.