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FINANCIAL NEWS
Saudi Cement Q1 profit up to USD90.6m
15 Apr 2013
(MENAFN) Saudi Cement Company stated that its first-quarter net profit gained 4.5 percent to USD90.6 million, reported Arabian Business.
The company added that the increase resulted from higher operating efficiency as production grew.
The Kingdom’s plan to expand and develop its infrastructure and spend around USD67 billion on new homes for Saudis is projected to benefit the firm.
Saudi Cement noted that net profit in the first quarter also represented an increase of 22.5 percent from the USD73.95 million recorded in 2012’s fourth quarter, with the growth attributed to a surge in cement sales due to strong local demand.
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