Positive results for Southern Province Cement

By Becca Wilkins15 July 2008

Southern Province Cement Co, Saudi Arabia's second-largest cement producer by market value, posted a +19.5% rise in second-quarter net profit, according to a company statement.

Southern Province, which began operating a third plant in February, made profit of SAR 465 million (US$ 124 million) in the six months to the end of June, up + 32.5% from a year earlier, the statement added.

The company said that it planned to offer shareholders a dividend of SAR 3 (US$ 0.80) per share from a total of SAR 420 million (US$ 112 million) for the first half of 2008.

The volume of Southern Province's sales rose +23.2 % to 2.92 million tonnes in the first half of this year the company statement said.

It added demand for cement is escalating in top global oil exporter Saudi Arabia, where the economy is thriving on a more than seven-fold surge in oil prices since 2002.

Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
Can machine learning help mend the contracting system?
How artificial intelligence can help contractors more accurately estimate the length and cost of construction projects
Investing in workforce wearables on construction sites
Exoskeletons can increase worker productivity and comfort, but there are issues to be avoided 
Does engineering design matter for Asia’s future infrastructure investments?
Asia’s future infrastructure is facing increasing scrutiny of its sustainability, constructability, bankability, and resilience
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com