Eastern Province full-year profit declines, Saudi Arabia

Eastern Province Cement Company (EPC) booked a SAR309m (US$82.4m) net profit for 2013, down from SAR387m a year ago, a decrease of 20.2 per cent YoY.

The company attributed the decline to lower sales and higher manufacturing costs as a result of maintenance works.

Earnings per share (EPS) stood at SAR 3.59, compared with SAR 4.5.

The Saudi-based producer registered an operating profit of SAR298m for the 12 months to December 2013, down from SAR374m a year earlier.