Four of Saudi Arabia's eight cement manufacturers have reported mixed results for the year 2000.

Yamama Cement Company has reported a net operating profit of SR221.8 million ($59.1 million) for the year 2000 compared with SR210.6 million for the previous year. The shareholders's equity was SR1,141 million for the year compared with the SR1,160 million reported in the previous year.

Also in the black was Arabian Cement Company, which reported a slight increase in pre-tax profit in 2000 against the figures posted in 1999. For the year 2000, the company's pre-tax profit stood at SR90.2 million ($24 million) against SR90.1 million in 1999. Income from sales was SR102.3 million while in 1999 it was SR107.7 million.

However, Qassim Cement Company said its net profit fell to SR181.7 million ($48.44 million) in 2000 against SR182.6 million in the preceding year. Net operating income at the end of 2000 stood at SR208.3 million against SR222 million at the end of the preceding year.

And the Dammam-based Saudi Cement Company witnessed a dramatic downturn in fortunes in 2000 when its net profit plunged to SR176.2 million ($47 million) against the SR242 million posted in 1999.

The net operating income for 2000 was SR167.4 million. Shareholders' funds for the year were SR1.75 billion while in 1999, they were SR1.83 billion. The company's assets dwindled from SR2.16 billion to SR 2.08 billion. All figures, however, are unaudited.

Meanwhile, Malta's ambassador gave Saudi cement manufacturers reason to cheer when he said that there are bright prospects for the export of Saudi cement to the country,

Ambassador Dr Saviour P Gauci, who is based in Riyadh, said that in the absence of indigenous production of cement, his country imported cement and Saudi producers could take advantage of that opportunity. Saudi petrochemicals would also have a good market in Malta, he added.

Riyadh's exports to Malta currently consist mainly of crude oil. Foreign businessmen, Gauci said, could benefit from Malta's strategic location adjacent to the dynamic European market.