Southern Province Cement second-quarter profit rises, Saudi Arabia

Southern Province Cement second-quarter profit rises, Saudi Arabia
Published: 17 July 2012


Southern Province Cement (SPC) posted a 9.6 per cent increase in second quarter profit, Reuters reports.

SPC achieved a net profit of US$69.86m during the quarter, up from US$63.6m a year earlier. Revenue rose 6.77 per cent to US$71.6m compared to US$67m in 2Q11.

The company attributed the increase in profits to the start of a second line at its Tuhama plant which started commercial production in March, as well as increased demand from local markets.

In May this year, SPC signed a contract with Chinese engineering company Sinoma for the installation of third kiln line at the Tuhama plant. This new line will have a capacity of 5000tpd.