Yanbu Cement posts 14% increase in net profit

Yanbu Cement Co reported a 14.3 per cent YoY increase in net profit to SAR58.31m (US$15.5m) in the 1Q24 from SAR51.01m in the 1Q23. The company attributed the rise in profit to an increase in both volume and value of sales in addition to other revenues, according to a bourse filing.

Sales edged up by 4.5 per cent YoY to SAR234.17m in the 1Q24 from SAR224.01m.

Earnings per share increased to SAR0.37 as of 31 March 2024 from SAR0.32m in the year-ago period.