Saudi Yanbu Cement net profit up to US$44.9m in 1Q08

Saudi Yanbu Cement net profit up to US$44.9m in 1Q08
Published: 18 April 2008

Saudi cement producer Yanbu Cement Company (YCC) said on April 16, 2008 its net profit rose to SAR168.4m (US$44.9m) in the first quarter of 2008, up from SAR151.6m (US$40.4m) a year ago.
 
The increase was attributed to a 15.3 per cent YoY rise in operating profit.
 
Earnings per share (EPS) stood at SAR1.6 (US$0.43), up from US$1.44 (US$0.38).
 
In late July 2007, YCC said it was studying a project to renovate its kilns 1 and 2 and increase their capacity.
 
YCC posted a net profit of SAR661m (US$176.2m) for 2007, up from SAR512.2m (US$136.6m) a year earlier.