Saudi Cement Co reports 10.5% rise in Q4 profit

Saudi Cement Co reports 10.5% rise in Q4 profit
Published: 20 January 2010

Saudi Cement said its fourth quarter profit rose by 10.5 per cent.

Saudi Cement Co, the country’s second-largest producer, said on Wednesday its fourth-quarter profit rose by 10.5 per cent due to increased sales.

Saudi Cement made a net profit of SR145.5m in the three months to December 31 compared to SR131.7m in the same period the previous year.

"The reason behind the rise in net profit for the fourth-quarter compared to the year before is due to the relative increase in sales ... which were negatively affected in the previous year," the firm said in a statement on the bourse website.