RIYADH – Yanbu Cement Company fetched a net profit amounting to SR247. 02 million in the first quarter of 2013 compared to SR144. 76 million for the same quarter of the previous year, up 70.6 percent, and compared to SR 203.42 million in the previous quarter, or up 21.4 percent. The company said in a statement Sunday that operating profits for the period amounted to SR254. 88 million versus SR149.51 million for the same quarter of the previous year, up 70.4 percent. Earnings per share during the three months reached SR1.57 compared to SR0.92 for the same period of the previous year, despite an increase in the number of shares, a result of the capital increase by 50 percent. The rise in profits during the current quarter was due to hike in sales and the efficient use of operating expenses, among others. Yanbu Cement, a Saudi Joint Stock Company, is one of the largest ISO 9002 certified cement companies in the Kingdom and also ranked as one of the top 50 companies. Its cement plants, with a capacity of 3.8 million tons clinker, are situated at Ras Baridi. Meanwhile, Najran Cement has agreed a deal to buy a 30 percent stake in Projects Supply Company - a transport and logistics specialist. The cement producer has said that the deal will allow it to better serve its own customer base as well as allowing it to capitalize on a boom in demand to transport cement. – SG
