Saudi cement producer Arabian Cement Company (ACC) said its net profit for the first quarter of 2009 has dropped 10% YoY to SAR 103.8m (USD 27.7m).

The decrease was due to lower sales and an increase in expenditure related to investments in new projects, ACC said without giving further details.

The earnings per share (EPS) stood at SAR 1.3, down from SAR 1.44. The operating profit declined to SAR 103.4m for the first quarter of 2009, down from SAR 110.3m a year earlier.
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