Eastern Province Cement first-half net profit falls, Saudi Arabia

Saudi cement producer Eastern Province Cement Company (EPCC) reported a 9.7 per cent reduction in first-half 2013 net profit due to lower sales, higher production costs and maintainance work carried out during the second quarter.

EPCC, which operates 3.2Mta of cement capacity from two cement plants, said net profit fell to SAR187m (US$49.9m) compared to SAR207m a year ago.

Earnings per share (EPS) stood at SAR 2.17, compared with SAR 2.41.

Operating profit in the six months to the end of June 2013 totalled SAR172m, down from SAR211m a year earlier.