Yamama leads Saudi cement sales growth in 1Q
Yamama Cement posted the strongest growth among rivals in the cement sales growth during the first quarter, NCB Capital said on Monday as producers release their quarterly results.
Compared to a year earlier, the volume of cement and clinker sales by Saudi firms rose 26 per cent during the first quarter with Yamama recording a 37 per cent rise, NCB Capital said in a note.
“We believe the year-to-date volume bodes well for the YoY growth in financial performance [that] we expect to see for Yamama, Qassim Cement and Saudi Cement in the first quarter of 2010,” NCB Capital said.
“Southern Cement and Yanbu Cement are expected to see relatively weak numbers against their peers,” it added.
Published under Cement News
