Saudi Cement's 1H12 sales surge 45%

Saudi Cement Company (SCC) said that its net profit for the six months through June 2012 rose 45 per cent YoY to SAR615.8m (US$164.2m) from SAR424.6m a year earlier.

The company attributed the increase to rising local demand. Operating profit increased to SAR623.4m for the first half of 2012 from SAR440.5m a year ago. Earnings per share (EPS) stood at SAR4.02, up from SAR 2.78.