Yanbu Cement has announced a net profit of $192m (SR: 720m) for 2012 - a 36.1% increase on 2011.
The company said that the increase had been achieved as a result of improved sales and the fact that it had started production at its fifth line during the year. It also reported a fourth-quarter sales increase of 32.7% to $54.1m.
Meanwhile, Yamamah Cement revealed that its full-year net profit increased by 11% to $218m, although fourth-quarter profits fell by 9% year-on-year to $46.4m.
The company blamed lower sale prices achieved during the fourth quaerter for the decline.
A recent report by National Commercial Bank said that demand for cement in Saudi Arabia remains strong, with ongoing projects set to sustain growth for several years.
Source:
http://www.uaecement.com/newsDetail.aspx?id=775
