Southern Province Cement Co, Saudi Arabia’s largest cement maker by market value, said its fourth quarter profits rose by 2.4 percent due to increased sales and lower costs.
Southern Cement made a net profit of US$48.27m in the three months to end December, up from SAR177m in the same period a year earlier, it said in a statement on the Saudi bourse website on Tuesday.
In a statement, the firm said: "The reason behind the increased net profit for the fourth quarter is due to increased sales and declining costs."
