Yanbu Cement 2005 net profits up

Yanbu Cement 2005 net profits up
Published: 20 March 2006

Saudi cement producer Yanbu Cement Company (YCC) registered an increase in net profit to 453.6 mln Saudi riyals (US$120.9m) for 2005, up from 427.7 mln riyals (US$114m) for 2004.  Sales rose slightly to 779.6 mln riyals (US$207.9m), against 774.6 mln riyals (US$206.5m). Cost of sales dropped to 303.3 mln riyals (US$80.9m), which led to a gross profit of 476.3 mln riyals ($127m).  YCC will pay a 30 per cent cash dividend for the second half of 2005, equal to 15 riyals (US$4.0) per share.