Increased sales boost Qassim 3Q11, Saudi Arabia

Increased sales boost Qassim 3Q11, Saudi Arabia
11 October 2011

Qassim Cement Company said it expects to post a rise of more than 7% in net profits for the third quarter YoY, thanks to increased sales and improved operating performance.

The company is forecast to make SAR114.97m after tax, up from SAR107.1m last year, it said in a statement. This is on the back of a 9.83% rise in gross profits and an 11% rise in operating profit, up to SAR 126m and SAR 118m respectively.

“The reason for the rise in net profit over the same period last year and the comparison of this year third quarter against the previous year third quarter is due to increase in sales value and improved operating performance of the subsidiary company,” the company said.

Published under Cement News