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Yanbu Cement rides crest of KSA materials demand

by CW Staff on Dec 11, 2011

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A major construction push in KSA is helping materials suppliers. File picture, for illustration only.

Yanbu Cement has posted an impressive increase in net profits for the latter half of 2011 as demand for raw materials increases in Saudi Arabia.

Yanbu Cement Company, based in the Red Sea port town that gives the company its name, produces Ordinary Portland cement (OPC) Sulphate Resisting Cement (SRC) , Portland Pozzolana Cement (PPC) and Masonry Cement.

In a statement to the Tadawul, Saudi’s stock exchange, the company says its unaudited annual results show that net profits grew 58% for fourth quarter, up from SAR100m ($26.6m) in 2010 to SAR 158m ($42.1m) in Q4 2011. Fourth quarter figures also surpassed those of Q3 2011 by 26.4%.

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The company’s net profit has also grown by almost 20% over the past 12 months, up from SAR465m ($124m) to SAR552m ($147m). That has driven earnings per share up to SAR 5.08 from SAR4.10.

The company’s shares were trading at SAR42.8 at the start of the year, climbing to a yearly high of SAR64.25 on September 5. Shares on Sunday December 11 were trading at SAR58.25.

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