Saudi Cement ...improved efficiency.
Saudi Cement records small growth in Q3 profit
DUBAI, October 21, 2014
Saudi Cement reported a slight increase in third-quarter net profit on Tuesday, beating analysts' forecasts who had expected the company's profit to decline.
Saudi Arabia’s largest cement producer by market value made a net profit of SR232 million ($61.8 million) in the three months to September 30, up from SR229 million in the corresponding period of 2013, according to a bourse filing.
Seven analysts polled by Reuters on average forecast Saudi Cement would make a quarterly profit of SR215.9 million.
The firm attributed the profit rise to improved efficiencies, although quarterly cement sales dropped due to declining local demand. - Reuters