Riyadh – Mubasher: Eastern Province Cement Company reported a 68.42% year-on-year profit increase during the second quarter of 2019, recording SAR 32 million.
The company ascribed the profit hike to a group of factors, among them the increase in sales revenue, according to a bourse statement released on Tuesday.
In the first six months of 2019, Eastern Cement’s profit jumped to SAR 78 million, compared to SAR 35 million in the year-ago period.
In May, Al Jazira Capital, the investment arm of Bank AlJazira, said that the Saudi cement sector is expected to recover from its current downtrend due to producer’s concentration on selling prices and an increase in export sales.
