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Saudi Arabia’s Eastern Province Cement Company (Epcco) has announced the appointment of its new chairman of the board.
Mohammed Saad Al-Farraj Al-Subaiei was appointed for a three-year term by the company’s board of directors during a meeting on Monday, the firm said in a bourse filing to the Saudi Stock Exchange (Tadawul).
The board of directors also appointed Ibrahim Salem Mohammed Al-Rwayes as deputy chairman.
From January to September last year, the company’s net profit went up by 19 percent year-on-year to 43 million Saudi riyals ($11.4 million). However, its sales/revenue for the third quarter dropped 8.62 percent to 159 million riyals, when compared to the same period in 2019.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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