Saudi- Qassim Cement profit up 7.65% 

(MENAFN - Arab News) Qassim Cement Company posted a consolidated net profit of SR158,442,456 for the first quarter of 2012 compared to SR147,176,466 for the same period of previous year.

This shows an increase of 7.65 percent and showing an increase of 8.45 percent against the posted net profit of SR146,099,886 during the previous last quarter of the year 2011.

The consolidated gross profit during the first quarter is SR170,615,930 compared to SR162,696,594 for the corresponding period last year, which shows an increase of 4.87 percent.

The consolidated operating profit during the first quarter is SR162,195,404 compared to SAR 151,687,337 for the corresponding quarter last year, showing an increase of 6.93 percent.

The earnings per share (EPS) for the three months amounted to SR1.76 against SR1.64 for the same period of the previous year.

The reason for the rise in net profit over the same period last year was due to improvement in sales value.