Saudi cement firms’ Q4 2018 profit well above forecasts

The aggregate net profit of Saudi cement producers, amounting to SAR 377.63 million in Q4 2018, exceeded the average estimates of SAR 152.28 million by 148 percent, data compiled by Argaam showed.

Saudi Cement’s Q4 net profit of SAR 124.83 million outstripped analysts’ estimates of SAR 88.65 million by 40.8 percent.

Yanbu Cement reported net earnings of SAR 34.24 million, 91.5 percent higher than expectations of SAR 17.88 million

Southern Province Cement, Qassim Cement and Arabian Cement, also topped estimates by 86.1 percent, 172.1 percent and 262.4 percent, respectively.

Yamama Cement reported net earnings of SAR 6.95 million, versus estimated loss of SAR 21.18 million in the fourth quarter.

Meanwhile, Eastern Province Cement reported a net profit of SAR 25.56 million in Q4, ahead of the average estimates of SAR 15.45 million by 65.4 percent.