Eastern Province Cement posts 19% rise in profit

Saudi Arabia’s Eastern Province Cement reported a net profit of SAR43m (US$11.47m) in the 3Q20, rising 19.4 per cent YoY from SAR36m in the year-ago period. However, the company's revenues declined by 8.6 per cent to SAR159m from SAR174m in the 3Q19.

During the first nine months of 2020, the company's net profits rose 38.6 per cent YoY to SAR158m from SAR114m in the corresponding period of 2019. Its revenues also advanced 4.9 per cent to SAR539m against SAR514m in the 9M19.