Saudi Arabian Cement Co 9 month net profit down

Saudi Arabian Cement Co 9 month net profit down
Published: 11 December 2009


Saudi cement producer Arabian Cement Company (ACC) registered a decline in its net profit for the first nine months of 2009 to SAR 259.2m (US$69.1m) from SAR 277.4m a year ago.

The decrease was chiefly due to a decline in average sales prices during the nine-month period, ACC said without giving exact figures.

The earnings per share (EPS) stood at SAR 3.24, down from SAR 3.47.

The operating profit also decreased in the first nine months of 2009 – to SAR268.6m from SAR275.2m a year earlier.

For the third quarter of 2009, the company posted a net profit of SAR72.8m, slightly up from SAR71.8m in the same period last year.