Yamamah Cement Co, Saudi Arabia’s largest cement maker, posted a net profit of 145.9m riyals (US$$38.9m) in the third quarter, a slower-than expected rise of eight per cent from the previous year.
The average forecast in a Reuters survey of three research firms was for earnings growth of 14.5 per cent. Click on for details of the forecasts.
Net profit in the first nine months of 2006, reached 489.4m riyals, up 43 per cent from the same period in 2005, Yamamah said in a statement posted on the bourse’s Web site late on Monday.
Operating profit for the January-September period rose 42 per cent to 485.8m riyals, it said.