Trade Resources Industry Trends Saudi' Net Profit for The First Six Months of 2013 Was up 5% From Last Year to $172.5m

Saudi' Net Profit for The First Six Months of 2013 Was up 5% From Last Year to $172.5m

Saudi cement firms, Yanbu Cement Co and Saudi Cement Co, have both announced positive results for the second quarter of 2013.

Yanbu posted a 26.9% increase in net profit for the period to $73.1m (SAR 274m), up from last year's corresponding figure of $57.6m (SAR 216m).

The company attributed the rise to higher production and sales volumes supported by the start of its kiln line No 5 last year.

The figures meant that the company's first-half net profit rose by 44.7% year-on-year to $138.9m (SAR 521m), with earnings per share (EPS) standing at SAR 3.31, up from SAR 2.29 a year ago.

Meanwhile, Saudi Cement Co has announced a 5.9% increase in net profit for 2013 Q2 to $81.7m (SAR 307m) from last year's figure of $77.3m (SAR 290m).

The company, whose net profit for the first six months of 2013 was up 5% from last year to $172.5m (SAR 647m), said the increase was due to a rise in local demand.

Source: http://www.uaecement.com/newsDetail.aspx?id=907
Contribute Copyright Policy
Saudi Cement Companies Post Healthy Q2 Net Profits
Topics: Construction