Local News
August 6, 2019
Yanbu Cement Co. reported a net profit after zakat and tax of SAR 113.03 million for H1 2019, an over twofold increase year-on-year (YoY) on higher average selling prices, and higher clinker exports. The second quarter net profit after zakat and tax soared to SAR 40.2 million compared to SAR 4.7 mil
Yanbu Cement Co. reported a net profit after zakat and tax of SAR 113.03 million for H1 2019, an over twofold increase year-on-year (YoY) on higher average selling prices, and higher clinker exports. The second quarter net profit after zakat and tax soared to SAR 40.2 million compared to SAR 4.7 million in Q2 2018 driven also by higher average selling prices, as well as higher clinker exports despite increased selling, general and administrative (G&A) expenses. Meanwhile, Q2 2019 net profit fell 44.9 percent compared to the previous quarter on lower sales in Ramadan, higher G&A expenses and a decline in profit share from associates. (Argaam)
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