Saudi Arab Cement profit up

Saudi Arabia’s Arab Cement has reported 2005 net profit of SR333m (US$88.80m), up 8.7 per cent from the last year’s figure which was inflated by a one-off capital gain. The firm’s operating income rose 45.3 per cent from 2004 to SR324m, a statement said.

"Net profit rose only 8.7 per cent in 2005 because the previous year included profits of SR72m from selling investments in stocks," the statement said, adding that the figures were provisional.