Southern Province Cement 3Q12 up 11.7 per cent, Saudi Arabia

Saudi Southern Province Cement Company said on Sunday its third-quarter net profit rose by 11.7 percent over last year's figure due to higher local demand.

The company said net earnings were SAR201m (US$56m) in the three months to Septebmber 30, compared to SAR180m in the third quarter of last year.

The results were 23-percent below that of the second quarter, a decline the company attributed to lower sales during the Muslim holy fasting month of Ramadan when activity slows.