Saudi listed firms see first-half net profits decline

Profits of listed Saudi cement companies dropped by 6.6 per cent to SAR3.40bn (US$906m) compared with SAR3.64bn in the corresponding period last year, a report, filed by Al-Riyadh daily has revealed.

In the second quarter, profits declined by 2.7 per cent to SAR1.77bn in the second quarter of 2014

Sales reached SAR3.66bn in the three months to the end of June 2014, while the cost of sales stood at SAR1.72bn, bringing revenues to nearly SAR1.94bn.