Saudi Cement records 8.9% rise in 4Q profit
Published by Rosalie Starling,
Editor - Hydrocarbon Engineering
World Cement,
On 14 January, Saudi Arabia’s largest cement company, Saudi Cement, reported an 8.9% rise in fourth quarter net profit, beating analysts’ forecasts.
According to a bourse filing, the manufacturer recorded a net profit of SAR269 million (US$71.68 million) in the three months ended 31 December 2014, compared with a profit of SAR247 million in October – December 2013. On average, analysts expected the company’s quarterly net profit to be around SAR259.8 million.
The growth in profit was attributed to higher cement sales and an increase in earnings from associated companies. Saudi Cement recorded a total profit of SAR1.08 billion in 2014, a 4.4% fall compared to 2013.
Edited from various sources by Rosalie Starling
Sources
Read the article online at: https://www.worldcement.com/africa-middle-east/15012015/saudi-cement-records-89-rise-in-4q-profit-144/
You might also like
The World Cement Podcast - What's next for US Cement?
In this episode of the World Cement Podcast, we are joined by Mike Ireland, President and CEO of the ACA or American Cement Association. Listen in as Mike and David dive into a range of topics, including the ACA’s recent rebranding efforts, decarbonisation, policy and legislation, and the impact of AI on cement demand.
Tune in to the World Cement Podcast on your favourite podcast app today.
