Fall in 4Q13 net profit for Saudi Cement
Published by Rosalie Starling,
Editor - Hydrocarbon Engineering
World Cement,
Saudi Cement saw an 8% fall in profit y/y in 4Q13 compared to 4Q12. Net profit for the cement manufacturer stood at SR256 million (US$68.3 million) during the quarter ending 31 December 2013, a fall from SR278 million (US$74.1 million) in the same period in 2012.
The decline in profit was accredited to a lower sales volume during 4Q13 and rising costs of raw materials such as clinker.
Despite this, net profit for FY13 increased to SR1.13 billion (US$301.3 million) from SR1.1 billion (US$293.3 million) in FY12 due to better operational efficiency.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/africa-middle-east/15012014/saudi_cement_sees_a_fall_in_net_profit_for_4q13_595/
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