Cement firms' combined profit seen to grow 3% in Q2

The combined profit of Saudi Arabia’s cement sector is projected to grow three percent to SAR 1.77 billion in the second quarter, compared with the same period last year, according to average forecasts compiled by Argaam.

Analysts are most positive about Jouf Cement and Yanbu Cement, estimating upward growth of 86 percent and 46 percent, respectively.

Profits of  Tabuk Cement and Hail Cement are expected to decline 23 percent and 13 percent respectively in the second quarter, according to average estimates.

Second quarter profit for Northern Region Cement Co is seen to remain the same, at SAR 62 million. Eastern Cement Co’s profit is estimated to be SAR 82 million, unchanged from the same period last year.

Saudi Fransi Capital has covered 13 cement firms, while Albilad only three.

" Argaam Reports "