Saudi Cement reports 16% drop in net profit to SAR 286mn

In the first quarter of 2014, net profit of Saudi Cement Company fell 16% year on year to SAR 286 million (€55.19 million) against SAR 340 million in the previous corresponding period of 2013. The drop was attributed to an associated company's loss and sluggish local demand following slowdown in the construction sector.
April 24, 2014 Read time: 1 min

In the first quarter of 2014, net profit of 7664 Saudi Cement Company fell 16% year on year to SAR 286 million (€55.19 million) against SAR 340 million in the previous corresponding period of 2013. The drop was attributed to an associated company's loss and sluggish local demand following slowdown in the construction sector.

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Saudi Cement’s January-March 2015 profit

Saudi Arabia's cement company, Saudi Cement has garnered SAR 303 million (€76.41 million US$80.79 million) in net profits in the January-March 2015 quarter, representing a year-on-year increase of 5.9% from SAR 286 million registered in the preceding year.

The increase in profitability is attributed to the higher earnings generated from export sales.

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