Arabian Cement returns to profit in 1Q19

Arabian Cement net profits reached SAR37.1m in the first quarter of 2019, compared to net losses of SAR6.1m in the year-ago period, according to a statement to the Saudi Stock Exchange. Net profits surged 127.6 per cent QoQ from SAR16.3m in 4Q18.

The company attributed the turnaround to higher revenues and lower costs. In addition, reduced general and administrative expenses and lower losses in its Jordan unit contributed to the more positive result.