Southern Province Cement 1H net profit up 3.7%

Southern Province Cement posted a SAR566m (US$150.9m) net profit for the first half of 2013, up from SAR546m a year ago. The company attributed the increase to higher sales driven by a rise in local demand.

The company operates 6.2Mta of cement capacity in the kingdom from three cement plants.  Line 2 at its plant in Tahama was put into operation last year with a capacity of 10,000tpd and a third line is being built at the plant which will expand capacity by a further 5000tpd. When completed in 2016, the company will have a cement capacity of 7.68Mta.