Yanbu Cement 1H net profit rises four per cent, Saudi Arabia

Saudi Arabia-based Yanbu Cement said net profit for the first half of 2012 rose by 43.4 per cent YoY to SAR360m (US$96m). Earnings per share stood at SAR3.43, up from SAR2.39.

For the second quarter of 2012, Yanbu’s net profit reached SAR216m from SAR150m from the same period of last year.

The company attributed the strong performance to higher production and sales volumes as a result of the launch of Kiln Line No 5.