Saudi Arabian Cement Co H1

Saudi Arabian Cement Co H1
Published: 16 July 2004

Saudi cement producer Arabian Cement Company (ACC) posted a net profit of 192 mln Saudi riyals ($51.2m) for the first half of 2004, up by 69.6 per cent year-on-year.  ACC’s sales stood at 283.4 mln riyals ($75.6m), up 4.1 per cent, while operating revenue rose 5.0 per cent to 111.2 mln riyals ($29.7m). The company’s total assets stood at 1.437 bln riyals ($383m), up 5.9 per cent, and shareholders’ equity increased 6.0 per cent to 1.356 bln riyals ($362m).  ACC, based in Jeddah, western Saudi Arabia, was established in 1955 and is one of the eight cement companies, operating in the Kingdom. The company has an authorised capital of 600 mln riyals ($160m).