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FINANCIAL NEWS
Saudi Cement Co reports USD77m profit in Q2
15 Jul 2012
(MENAFN) Saudi Cement Company reported a 36-percent jump in quarterly profits from a year earlier, Reuters reported.
The company said it made USD77.4 million net profit in the second quarter, up from USD57 million in the same period last year.
The company attributed the rise in its quarterly earnings to growing domestic demand for cement and clinker.
The Saudi construction sector has been boosted over the past year by ramped-up government spending on infrastructure, including housing, schools, hospitals, road and sewerage projects.
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