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FINANCIAL NEWS
Saudi’s Yanbu Cement reports 70.6% increase in Q1 profit
15 Apr 2013
(MENAFN) Saudi’s Yanbu Cemet Company, which is one of the largest ISO 9002 certified cement enterprises in the country, announced that the firm’s net profit jumped 70.6 percent to USD65.78 million in the first quarter of this year, reported Saudi Gazette.
In 2012, the company’s net profit in the first quarter amounted to USD38.55 million, while it was USD54.2 million in the year’s fourth quarter.
In the first quarter of 2013, the company reported that operating profits amounted to USD67.87 million compared to USD39.81 million for the same quarter of the previous year.
Meanwhile, the increase in sales and the efficient use of operating expenses, among others, were the main reasons behind the upsurge in profits for the quarter.
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