Saudi Yanbu Cement logs $46mln profits in nine months

The company generates $61mln in revenues in Q3-19

  
Image used for illustrative purpose. Excavator at cement factory.

Image used for illustrative purpose. Excavator at cement factory.

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Riyadh – Mubasher: Yanbu Cement Company disclosed its interim consolidated financial results for the third quarter of 2019.

Net profits soared by 352.4% to SAR 61.35 million in Q3-19, compared to SAR 13.56 million in Q3-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Tuesday.

The company generates SAR 227.97 million in revenues over the quarter, 49.18% higher than SAR 152.81 million in the same quarter a year ago.

For the first nine months of 2019, net profits of Yanbu Cement hiked by 198.47% to SAR 174.37 million, versus SAR 58.42 million in the corresponding period last year.

On a yearly basis, total revenues of the Saudi-based firm jumped by 23.27% to SAR 697.37 million in nine months.

By the end of September, profit per share reached SAR 1.11, compared to SAR 0.36 in September 2018.

Source: Mubasher

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