Saudi Southern Province cement H1 2005 net profit at $86.2m

Saudi cement producer Southern Province Cement (SPC) posted a net profit of SAR323.1m (US$86.2m) for the first half of 2005, up 14.1% YoY. Gross profit grew 13.4% YoY to SAR333.4m (US$88.9m) for January to June 2005. The company registered a 3.7% annual drop in total operating expenses to SAR13.9m (US$3.7m) in the first six months of 2005.