Saudi Arabian cement manufacturer Yamama Cement anounced a 17% increase in net profit for the nine months to September 30 of $171.7m (SR: 644m), compared with $146.4m (SR: 549m) last year. The company said that it had increased net profits for the three months since June 30 by 5% on the previous year to $41.9m (2011: $39.7m). Third quarter profits were 25% lower than the second quarter, though, which it blamed on the quieter trading period during the month of Ramadan and the Eid-al-Fitr period. It said the growth experienced for the whole of the nine month period was due to the higher third-quarter profit and the "increase in sold quantities" due to higher domestic demand. Source: uaecement
Source:
http://www.uaecement.com/newsDetail.aspx?id=677
