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Saudi Cement ...improved efficiency.

Saudi Cement records small growth in Q3 profit

DUBAI, October 21, 2014

Saudi Cement reported a slight increase in third-quarter net profit on Tuesday, beating analysts' forecasts who had expected the company's profit to decline.

Saudi Arabia’s largest cement producer by market value made a net profit of SR232 million ($61.8 million) in the three months to September 30, up from SR229 million in the corresponding period of 2013, according to a bourse filing.

Seven analysts polled by Reuters on average forecast Saudi Cement would make a quarterly profit of SR215.9 million.

The firm attributed the profit rise to improved efficiencies, although quarterly cement sales dropped due to declining local demand. - Reuters




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