FINANCIAL NEWS

Saudi Cement records 3.9pct drop in profit

19 Oct 2016

(MENAFN) Saudi Cement, one of the kingdom’s main cement firms recorded a 3.9 percent decline in Q3 net profit as sales dropped, selling and distribution expenses rose.

Additionally, net profit in the three months to Sep.30 reached USD53.32mn, down from 208mn riyals a year ago.

However, construction-related firms under pressure from sector decreased, due to state spending cuts and lower oil prices.

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