Eastern Province Cement 1H12 net profit rises 12.5 per cent, Saudi Arabia

Eastern Province Cement Company (EPC) recorded a SAR207m (US$55.2m) net profit for the first half of 2012, up from SAR184m a year ago, an increase of 12.5% YoY.

The company attributed the increase to a rise in sales as a result of rising local demand, along with higher investment income and lower sales and distribution costs.

Earnings per share (EPS) stood at SAR2.41, compared with SAR2.13.

The cement manufacturer registered an operating profit of SAR211m for the first six months of 2012, up from SAR186m a year earlier.