Yamama sees 19pc hike in Q4 profit
Riyadh, January 3, 2012
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 SR160 million in the prior-year period, according to a statement said.
On the year, it had estimated profit of SR740 million riyals, up 13 per cent from SR657 million in 2010.
Estimated operating profit for the fourth quarter also rose 19 per cent to SR179 million, from 166 million a year earlier. Yamama did not provide revenue figures. – Reuters