Saudi's Yamama Saudi Cement Company plans to increase its capital by 50 per cent through a bonus share issue, the firm said in a bourse statement.
The firm will increase its capital to SR2.025 billion ($540 million) from SR1.35 billion
Saudi Arabia's Yamama Cement estimated fourth quarter profits would be 19 per cent higher on Tuesday, partly on higher sales.
Yamama said estimated net profit was SR191 million ($50.9 million) in the quarter ended December 30, up from
Saudi Arabia's Yamama Cement posted a 10 per cent increase in its fourth quarter net profits, the company said in a bourse statement on Saturday.
Yamama made SR160 million ($42.7 million) in the three months ending December, compared to SR
Saudi Arabia's Yamama Cement posted a 31 per cent increase in first quarter net profits due to higher sales despite an export ban.
Saudi cement companies are still faced with an export ban imposed in 2008 after cement prices skyrockete
Yamama Cement, Saudi Arabia's third biggest cement firm by sales, said on Saturday it had agreed to take a 20 per cent stake in the Yemeni Saudi Cement Company for $15 million.
'The completion of the legal proceedings and the final
Two Saudi Arabian cement producers said on Saturday profit fell in the fourth quarter on lower sales volumes following a government decision to ban exports.
Yamama Cement Company, the country's third largest cement producer, said net i