Yanbu Cement 4Q net earnings up 20.63%

Yanbu Cement 4Q net earnings up 20.63%
12 January 2015

Saudi producer Yanbu Cement Co posted SAR193m (US$51.4m) net earnings for the fourth quarter of 2014, rising 20.63 per cent from SAR160m in 4Q13 and 18.4 per cent from SAR163m in 3Q14.

However, full-year net earnings fell 2.31 per cent YoY from SAR821m to SAR802m.

Earnings per share (EPS) decreased from SAR5.21 to SAR 5.09.

The cement producer attributed fourth quarter profit growth to higher sales and lower sale costs on improved operating efficiency.

The full-year profit decline was due to lower sales on weak demand.

Published under Cement News