Saudi Cement 4Q13 profit down 8% YoY

Saudi Cement reported an eight per cent fall in fourth-quarter profit on Tuesday, attributed to lower sales and rising raw material costs.

In the three months to the end of December the company posted a net profit of SAR256m (US$68.3m), down from the SAR278m in the same period of the year before, according to a statement to Saudi Arabia’s bourse.

Saudi Cement attributed the profit drop to a decrease in sales during the quarter and the high cost of imported clinker.