Eastern Province Cement Co net profit rise

Saudi cement producer, Eastern Province Cement Company (EPC), reported an 19 per cent YoY increase in net profit to 157m Saudi riyals (US$41.m) for the first six months of 2004, the company’s director general, Zamil Abdul Rahman al-Muqrin, said.

The profit included 18m riyals (US$4.8m) generated from divestments. EPC has started the implementation of a project for the construction of a clinker production line with a daily capacity of 3,500t which will increase the company’s annual clinker output to 3.15Mt, al-Muqrin added.

EPC posted a net profit of 250.8m riyals (US$66.9m) for 2003, up from 237m riyals (US$63.2m) in 2002, the Saudi Arabian News Digest reported on January 23, 2004.