Monday, Jun 20, 2011
RIYADH (Zawya Dow Jones)--Yamama Saudi Cement Co. (3020.SA) said Monday its estimated second-quarter profit rose 17% year-on-year to 224 million riyals ($59.7 million) due to higher sales and demand.
First-half earnings per share came in at SAR2.99 versus SAR2.65 a year ago, the company said in a statement posted on the Saudi bourse website.
Operating profit for the three-month period rose to SAR221, from SAR188 in the year-earlier period, it said.
The cement producer said in a separate statement it plans to pay SAR2 per share in dividends for the first half of 2011, or an overall dividend of SAR270 million.
Shares in the company closed trading down 0.4% at SAR61.50 Sunday.
-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
20-06-11 0647GMT
