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Saudi Cement Q1 earnings grow 6% on higher sales

Saudi Cement Q1 earnings grow 6% on higher sales
Saudi Cement
SAUDI CEMENT
3030
-6.89% 46.65 -3.45

Riyadh-Mubasher: Saudi Cement recorded net earnings of SAR 303 million in the first three-month period of 2015, rising 5.94% year-on-year from SAR 286 million and 13.06% quarter-on-quarter from SAR 268 million.

The cement producer ascribed the y-o-y profit growth to strong sales and a rise in shares of associated companies' profits, as well as other income.

The q-o-q profit rise was boosted by strong sales, a decrease in zakah expenses and an increase in other income, the company said.