Yanbu Cement 1Q13 net profit surges on expansion, Saudi Arabia

Yanbu Cement announced that, according to preliminary figures, its net profit for the first quarter of 2013 surged by 70 per cent YoY, on the back of increased capacity.

Net profit for the three months to the end of March 2013 rose to SAR247m (US$65.9m) according to the preliminary data. Earnings per share stood at SAR1.57, up from SAR0.92.

"The increase in the current quarter profit compare with the same quarter for the previous year due to increase in sales quantity due to start Line 5 commercial production from April 2012," the company said in a statement.