Maaden swings to Q3 net profit
Jeddah, October 11, 2011
Saudi Arabian Mining Co (Maaden) swung to a net profit of 27.4 million riyals ($7.3 million) in the third-quarter, but the results missed analyst forecasts.
Maaden made a net profit of 27.4 million riyals in the third quarter, compared with a loss of 0.2 million riyals in the same period a year earlier.
Two analysts surveyed by Reuters on average expected the firm to post a net profit between 88 million to 90 million riyals for the third quarter. - Reuters