Saudi Arabian Mining Company (Ma'aden), the Gulf's largest miner, posted a fourth-quarter net profit but fell short of analysts' forecasts.

Net profit for the three months to December 31 was SR376 million ($100.1 million) versus a loss of SR29.2 million a year earlier, it said in a bourse statement.

It attributed the quarterly profit to sales growth and higher prices for its products except gold.

Three analysts surveyed by Reuters had forecast on average that Maaden would report a net profit of SR490.23 million. - Reuters