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FINANCIAL NEWS
Saudi Cement’s Q4 net profit rises 39.7%
17 Jan 2012
(MENAFN) Saudi Cement Co said that in the fourth quarter, net profit jumped 39.7 percent from 2010’s same period to USD56.6 million, reported Emirates 24/7.
The company added that the increase from the USD40.5 million recorded in the same period a year earlier was due to higher production and demand.
It also said that during the period, operational profit went up by 39.5 percent to USD58.65 million, in comparison with USD42 million in 2010’s same period.
It is worth noting that during the period, Saudi Cement added new production lines, which boosted the company’s output and profit.
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