Qassim Cement sees 2Q profit rise

Saudi cement producer Qassim Cement reported a net profit after zakat and tax of SAR70.5m (US$18.8m), a 383 per cent increase YoY, when net profit reached SAR18.4m, according to Reuters.

Second-quarter sales surged from SAR88.1m in the 2Q18 to SAR154.5m in the 2Q19. The rise in sales was driven by an increase in average selling prices.