Saudi Cement Q4 profit down 21 per cent

Saudi Cement Q4 profit down 21 per cent
Published: 22 January 2009

Saudi Cement Company said the fourth-quarter profit fell 21 per cent to SAR131.7m (US$35.12m) after a government ban on exports.

Saudi Arabia introduced the ban on cement exports in June to ease supply bottlenecks amid soaring demand across the region.

’The main reason for the decline is the ban on cement exports,’ it said in a statement on the bourse website.