Saudi Cement Co 3Q12 net profit rises, Saudi Arabia

Saudi Cement Company (SCC) said its net profit for the nine months through September 2012 surged in the first nine months of 2012 compared to the same period of the previous year.

Net profit rose 30.5 per cent YoY, to SAR825.3m (US$220.1m) from SAR 619.9m a year earlier.

Earnings per share (EPS) stood at SAR 5.39, up from SAR 4.05.

Operating profit increased to SAR842m for the first nine months of 2012, from SAR645.1m a year ago.

For the third quarter alone, the company reported a net profit of SAR209.5m, an increase of 7.3 per cent YoY.