Jul 13 2010 |
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Cement sales of 12 Saudi firms rise 12.3% in Q2
RIYADH - Sales by 12 Saudi cement firms rose 12.3 percent during the second quarter but the listed manufacturers are not doing as well as non-listed rivals, according to data released by Yamama Cement on Monday.Cement sales, including exports, stood at 11.42 million tons during the second quarter against 10.17 million tons a year earlier, Yamama said in a report.
For the eight listed cement firms, the sales stood at 8.96 million tons, an increase of 3.7 percent over the same period in 2009.
The 12 companies have an estimated annual cement production capacity of 48 million tons.
Cement exports stood at 112,000 tons in May, up 41.8 percent y-o-y.
On a m-o-m basis, cement exports grew seven percent from 105,000 tons in April.
Yamama Cement said Monday its second-quarter net profit rose 16 percent year-on-year to SR192 million ($51.2 million) due to higher sales and demand.
First-half earnings per share for the period came in at SR2.65 versus SR2.16 in 2009, the company said in a statement posted on the Saudi bourse website.
Operating profit for the three-month period increased 13 percent to SR188, from SR166 in the year earlier period, it said.
The firm said it will pay a dividend of SR2 a share for the first half of the year.
Yamama shares finished trading 0.4 percent higher Monday at SR49.90.
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