Yanbu Cement sees a 33% rise in net profit

Saudi Arabia’s Yanbu Cement has seen a 5.4 per cent YoY increase in revenue to SAR240m (US$64m) for the third quarter of 2020, against SAR227.97m in the 3Q19.

The company also saw a 33.2 per cent YoY rise in net profit to SAR82.48m from SAR61.94m in the year-ago period. The improvement was attributed to higher revenue and lower expenses.  

Over the nine-month period ended 30 September, Yanbu recorded a net profit of SAR210.12m, up 20 per cent YoY from SAR174.9m in the 9M19.