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Saudi Cement's Q4 profit up 31pc

Riyadh, January 16, 2013

Saudi Cement Company made a net profit of SR277.7 million ($74 million) in the final three months of 2012 compared to SR211.4 million during the same period the previous year boosted by higher local demand.

The company posted a better than expected 31.4 per cent rise in its fourth-quarter net profit, it said in a bourse statement.

Four analysts surveyed by Reuters expected the firm to post on average SR255.5 million.

Operating profit rose by 36.8 percent to 300.9 million riyals, up from 220 million riyals in the final three months of 2011.-Reuters




Tags: cement | Saudi |

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