Yanbu Cement Co net profit down 11.1% in 1Q16

Yanbu Cement Company posted a 11.11 per cent decline in net profit for the first quarter of 2016, according to a bourse filing sent Wednesday.

The cement producer generated SAR184m (US$49m) earnings in the three-month period, down from SAR207m reported in the same quarter a year earlier. Yanbu Cement ascribed the lower profits to a decline in sales volume in addition to a rise in fuel prices.