Riyadh – Mubasher: Saudi Arabia’s Yanbu Cement Company reported an 81.2% year-on-year surge in profits during the first quarter of 2019.
The firm’s profits amounted to SAR 72.85 million in Q1-19, compared to SAR 40.2 million during Q1-18, according to a bourse filing on Tuesday.
Yanbu Cement attributed the sizeable rise in Q1-19 profit to an increase in the average of selling prices and higher clinker exports, combined with lower costs.
The Saudi cement provider’s operating profits soared 168% to SAR 81.2 million from January to March 2019, compared to SAR 30.27 million in the prior-year period.
Quarter-on-quarter, profits skyrocketed 106% from SAR 34.18 million.
