Yanbu Cement Co nine-month net profit down 2%

Yanbu Cement Co nine-month net profit down 2%
Published: 12 October 2015


Saudi-based Yanbu Cement Company reported a two per cent decline in net profit over the first nine months of 2015 to SAR597m (US$159m), compared to SAR609m in the same period of 2014.

In the third quarter alone, profit was down by 11 per cent to SAR145m versus SAR163m in 3Q14, according to a bourse filing.

The profit drop during the first nine months and third quarter of 2015 is mainly attributed to a decline in other revenues.