Saudi Cement Company recorded a slight increase in net profit for the quarter ended 30 September 2014.
Despite a drop in quarterly cement sales due to declining local demand, the manufacturer beat analysts’ expectations, who predicted a decline in the company’s profits, posting a net profit of SR232 million (US$61.8 million), an increase from SR229 million recorded in the corresponding quarter in 2013. The rise was attributed to improved production efficiency.
Edited from various sources by Rosalie Starling
Sources
Read the article online at: https://www.worldcement.com/africa-middle-east/24102014/saudi-cement-posts-3q14-results-734/
