Saudi cement producer Eastern Province Cement Company (EPC) posted a net profit of 74.6 mln Saudi riyals ($19.9m) in the third quarter of 2005, up from 62.8 mln riyals ($16.7m) in the year ago period. The company’s total assets stood at 1.886 bln riyals ($503m), up from 1.42 bln riyals ($379m), while current liabilities increased to 119 mln riyals ($31.7m) from 115 mln riyals ($30.7m). Shareholders’ equity was 1.613 bln riyals ($430 mln/358 mln euro).
EPC based in Dammam, eastern Saudi Arabia, was established in 1982 as a joint stock company under the name of Saudi-Kuwaiti Cement Company. The company changed its name to Eastern Province Cement Company in 1994 and is now wholly owned by Saudi investors.