Saudi Eastern Cement Q4 net profit up 79 per cent

Saudi Eastern Cement Q4 net profit up 79 per cent
09 January 2007


Saudi Arabia’s Eastern Province Cement Company said on Tuesday fourth quarter net profit rose 79 per cent from a year earlier to SAR111m ($29.60m). 
 
Full-year profit grew 49 per cent to SAR446m on higher sales volume, the company said in a statement on the stock exchange Web site, citing preliminary data.
 
"This record growth in the firm’s net profits in 2006 is mainly due to a rise in sales volume," it added, without giving details. 
 
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