City Cement reports 19% profit increase for 2018

Saudi Arabia’s City Cement Co has noted an 18.9 per cent YoY rise in net profit to SAR111m (US$29.58m) for 2018, compared with SAR93.3m of the previous year. The increase was supported by a reduction in sales costs and raising operational efficiency, while the company also reported the final settlement with the main contractor, Sinoma International Engineering Co, for its second production line.

In the final quarter of 2018, its profits climbed 229.8 per cent to SAR78.58m from SAR23.83m of the year-ago period.