Arabian Cement Co first-quarter net profit rises 26%

Saudi cement producer Arabian Cement Company (ACC) said its net profit for the first quarter of 2012 rose by 26% year-on-year to SAR146.1m (US$88.7m), boosted by growing sales. Operating profit increased by 24.8% to SAR 151.7 million in January-March 2012.

The company’s management board has decided to recommend to shareholders a cash dividend of SAR1 (US$0.267) per share for the first half of 2012. If approved, the dividend will be paid to shareholders registered at the close of business on June 30.