ACC net profit up 36%, Saudi Arabia
Saudi cement producer Arabian Cement Company (ACC) saw its net profit for January-September 2011 surge by 36% YoY to SAR332.7m (US$88.7m). Earnings per share (EPS) stood at SAR4.16, up from SAR3.06.
The company attributed the increase in bottom-line figures to rising production and sales volumes, but did not give exact figures.
The operating profit jumped by 48.2% to SAR363.5m for the nine months of 2011. For the third quarter of 2011, the company registered a net profit of SAR104.9m, an increase of 28.4% YoY.
Published under Cement News
