Yamama Cement seen more promise

Yamama Cement seen more promise
Published: 24 March 2006

Saudi cement producer Yamama Cement Company expects a 50 per cent year-on-year increase in its net profit for the first quarter of 2006 to 150 mln Saudi riyals (US$40m), the company said on March 21, 2006.  The forecast is based on strong sales figures since the beginning of 2006, with registered daily sales averaging 15,000t in the last few weeks.  YCC will hold a general meeting on April 3, 2006 to propose a cash dividend of 30 riyals (US$8) per share for 2005, and a capital hike to 1.35 bln riyals (US$360m).