Saudi cement producers see 1Q rise in net profit

Saudi cement producers see 1Q rise in net profit
12 June 2012


Two leading Saudi Arabian cement producers have reported solid gains in the first quarter of 2012 driven by higher sales volumes as a result of rising local demand.

Saudi Cement Company (SCC) said that its net profit for the three months through March 2012 surged 54.4% YoY to SAR325.6m (US$86.8m) from SAR210.8m a year earlier.

Meanwhile, Eastern Province Cement Company registered a SAR104m (US$27.7m) net profit for the first quarter of 2012, an increase from the SAR83m recorded a year ago. This represents a YoY advance of 25 per cent.

Published under Cement News