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Monday, 23 November 2009 00:16 UAE time

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Yamamah Cement Q2 profit up 12.5%

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 13 July 2008
PROFIT RISE: Saudi Arabia's Yamamah Cement Co said on Sunday second-quarter net profit rose 12.5 percent on higher sales. (Getty Images)
PROFIT RISE: Saudi Arabia's Yamamah Cement Co said on Sunday second-quarter net profit rose 12.5 percent on higher sales. (Getty Images)

Saudi Arabia's Yamamah Cement Co said on Sunday second-quarter net profit rose 12.5 percent on higher sales, beating all analysts' forecasts.

Yamamah, Saudi Arabia's third-largest cement maker by market value, made a net profit of 227.8 million riyals ($60.7 million) in the three months to June 30 compared with 202.5 million riyals a year earlier, it said in a statement on the bourse website.

"This growth in profit is due to an increase in the company's sales volume," Yamamah said.

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The quarterly earnings came ahead of all three forecasts in a newswire Reuters net profit survey last month, ranging from 210.9 million to 219.6 million riyals. (Reuters)

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