Clinker sales boost Northern Region 3Q profit

Saudi Arabian cement maker Northern Region Cement Co reported on a 2.6 per cent YoY increase in its third-quarter net profit to SAR51.35m (US$ 13.69m), fuelled by higher clinker sales.

Operating profit grew almost 20 per cent on a YoY basis to SAR 58.33m. Gross profit gained 16.9 per cent to SAR 69.48m.

Net profit for the first nine months fell 4.8 per cent in annual terms to SAR 174.2m, mainly due to increased sales, marketing and financing costs and decreased returns on investment.

Earnings per share (EPS) stood at SAR 0.97, down from SAR 1.03. Operating profit increased 9.8 per cent to SAR196.5m. Gross profit gained seven per cent to SAR 229.2m.