Saudi YCC Q1 2006 net profit up
Saudi cement producer Yamama Cement Company (YCC) posted a net profit of 158.7m Saudi riyals ($42.3m) for the first quarter of 2006, down from 102.8m riyals ($27.4 mln/21.5 mln euro) for the same period of 2005.
Gross profit stood at 163m riyals ($43.5m) in 2005, up from 112.4m riyals ($30m) in 2004. YCC’s total assets stood at 2.87bn riyals ($765m) at end-March 2006, up from 2.063bn riyals ($550 mln/432 mln euro) a year ago.
YCC posted a net profit of 500.9m riyals ($133.5m) for 2005, down from 542.2m riyals ($144.6m) for 2004. The 2004 profit included extraordinary income of 144.8m riyals ($38.6 mln/30.3 mln euro) generated from the sale of YCC’s stake in the Saudi Industrial Investment Group (SIIG) in April 2004.]
Published under Cement News
