Saudi Yamama Cement Co net profit up

Saudi Yamama Cement Co net profit up
Published: 21 July 2004

Saudi cement producer Yamama Cement Company (YCC) registered an 86 per cent YoY increase in net profit to 346.5m Saudi riyals (US$92.4m) for the first half of 2004, according to the company’s managing director Prince Mohammed bin Mohammed bin Saud al-Kabir.  The profit for the period included extraordinary income of 144.8m riyals (US$38.6m) generated from the sale of YCC’s stake in the Saudi Industrial Investment Group (SIIG) in April 2004. YCC’s operating revenue stood at 201.7m  riyals (US$53.8m) in the first half of 2004, al-Kabir said.