Saudi Arabia: Qassim Cement sees 6% rise in 3Q profit

Saudi-based producer Qassim Cement reported a six per cent rise in third-quarter profit to SAR115m (US$30.7m), versus SAR109m in the same quarter of last year, according to a bourse filling.

For the first nine months of this year, net profit reached SAR445m, up four per cent from the SAR429m recorded in the the corresponding period of 2014.

The rise in profit is attributed higher sales both in terms of volume and revenue.