Saudi: Yanbu first-quarter net profit edges ahead

Yanbu Cement Company posted a net profit of SAR207m (US$55.2m) in the three months to 31 March 2015, up one per cent from SAR205m a year earlier, the Saudi-based company said in a bourse statement.

Net profit increased 7.2 per cent against SAR193m for the previous quarter, its interim consolidated financial results showed.

Gross profit for 1Q15 reached SAR224m versus SAR223m for the same quarter of the previous year, an increase of 0.45 per cent.

Operational profit for the first quarter of 2015, reached SAR212m against SAR213m for the same quarter of previous year, a decrease of 0.47 per cent and against SAR199m of previous quarter, an increase of 6.53 per cent.