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FINANCIAL NEWS
Saudi Cement reports USD56m profit in Q3
15 Oct 2012
(MENAFN) Saudi Cement Co reported a 7.3 percent increase in quarterly profits on higher domestic sales, Reuters reported.
The company said it made USD56 million net profit during the third quarter, up from USD51.9 million a year ago.
The company said local demand for cement and clinker grew in the July-September period. Saudi Arabia is witnessing big developments driven by the government’s strategy to diversify its economy away from oil.
Saudi Cement also said that it’s operational profit for the period increased by 6.8 percent to USD58.32 million.
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