Yanbu Cement sees net profit surge 81% in 1Q19

Saudi Arabia’s Yanbu Cement Co has reported an 81.3 per cent YoY rise in net profit for the first quarter of 2019, increasing to SAR72.9m (US$19.4m) from SAR40.2m a year ago. The profit surge has been attributed to the higher selling prices and lower average cost, due to a higher quantity of clinker production.

Sales also saw a significant growth of 20.6 per cent to SAR259.8m, compared with SAR215.5m in the 1Q18.