Eastern Cement's net profit more than doubles in 9M 2019
Eastern Province Cement Co. (EPCCO) reported a net profit after zakat and tax of SAR 114 million for the first nine months of 2019, an over twofold increase year-on-year (YoY) on higher sales volumes, and investment income.
The nine month results were also backed by a decline in selling, general and administrative expenses, in addition to other expenses and zakat provision.
The third quarter net profit after zakat and tax surged to SAR 36 million, from SAR 9 million a year earlier attributed to higher sales volumes, and investment income.
On a sequential basis, Q3 2019 net profit jumped 12.5 percent.