Saudi Eastern Province Cement profits remain level
Saudi cement producer, Eastern Province Cement Company (EPC), recorded a net profit of SAR 258m (USD68.8m) for the nine months up to September 2011, only slightly down from SAR260m a year ago.
The decrease in the company’s bottom-line results was attributed to lower sales during the nine-month period, and in particular the holy month of Ramadan and the Eid al-Fitr holidays. The operating profit stood at SAR 272 million in January-September 2011, up from SAR 266 million a year earlier.
For the third quarter of 2011, the company’s net profit was SAR 75 million, an increase from SAR 64 million a year ago.
EPC, based in Dammam, eastern Saudi Arabia, operates two cement plants with a nominal cement capacity of 3.5Mta. Published under Cement News
