Yanbu Cement Q1 net income up 16 per cent

Yanbu Cement Q1 net income up 16 per cent
Published: 13 April 2004

Yanbu Cement reported its first quarter net income, after Zakah, rose 16 per cent from a year earlier to reach SR 104.9 million ($28m). In 2003, Yanbu Cement delivered 100 percent of its production to the market - estimated at 4.1Mt. It exported 703,000t during the year. Local demand for cement reached 22.2Mt in 2003. The total production of Saudi’s eight cement companies reached 24.1Mt in 2003. Yanbu Cement is Jeddah-based and is 78.9 per cent owned by the private sector and 21.1 per cent by the government.