Saudi Arabia: Eastern Province net profit up 6% YoY

For the year ending 31 December 2011, Eastern Province Cement Co announced that its net profit was SAR364m (US$97m), compared to SAR343m (US$91.4m) for the same period of the previous year, an increase of 6%. The rise in the net profit was due to a decrease in the cost of sales and to the enhancement of the operational efficiency of production lines as well as the rationalisation of some production cost items.

Earnings per share were SAR4.23, compared to SAR3.99 YoY. Gross profit was recorded at SAR419m, compared to SAR388m the previous year, a rise of 8%, while operating profit was SAR378m, compared to SAR351m YoY, up 8%.