Saudi cement companies 1Q net profit rise, Saudi Arabia

Saudi cement companies 1Q net profit rise, Saudi Arabia
Published: 09 April 2012


Two leading Saudi Arabian cement producers have reported a rise in first quarter 2012 net profit due to higher sales.
 
Yanbu Cement said its first quarter 2012 net profit surged 43.6 per cent YoY to SAR145m (US$38.7m). Earnings per share stood at SAR1.38, up from SAR0.6 from the same period last year.
 
Meanwhile, Qassim Cement net profit rose 7.7 per cent to SAR158.4m (US$42.3m). First-quarter earnings per share were SAR1.76, down from SAR1.64 a year earlier, while operating profit rose 6.9 per cent to SAR162.2m during the same period, the company said in a statement posted on the Saudi bourse website.