Saudi cement makers post solid income growth
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Saudi cement makers post solid income growth

Saudi cement makers post solid income growth

Saudi cement producers Yamama and Yanbu have reported solid profit growth, though Yamama's profits slipped somewhat in 2012's final quarter, Saudi Gazette has reported. Yanbu Cement posted a net profit of SR720m ($192m) for 2012, up by 36.1% on the 2011 figure, thanks to improved sales and the opening of a fifth production line part way through the year. Yamamah Cement said its full-year net profits climbed 11% to $218m, despite the 9% year-on-year decline in fourth quarter profits to $46.4m. The company blamed the lower sale prices achieved during the fourth quarter before the decline was reached.

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