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FINANCIAL NEWS
Saudi Yamama Cement’s Q3 profit up to USD41.80m
16 Oct 2012
(MENAFN) Saudi Yamama Cement Co. stated that third-quarter net profit rose 5 percent to USD41.80 million from USD39.67 million in 2011’s same period, according to a statement on the Saudi Stock Exchange (Tadawul).
The company attributed the increase to higher sales resulting from growing domestic demand.
Operating profit went up by 8 percent to USD43.93 million, compared with USD40.74 million a year ago, whereas gross profit was up by 5 percent to USD46.86 million from USD44.73 million.
In the January-September period, net profit jumped 17 percent to USD171.49 million from USD146.19 million in the same period a year earlier.
Gross profit reached USD186.67 million in the 9-month period, up by 17 percent from the USD158.89 million posted in 2011’s same time.
It is worth noting that operating profit grew by 20 percent in the first 9 months of 2012 to USD177 million, compared with USD147.79 million.
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