Saudi Arabian Mining Company (Ma'aden), the Gulf's largest miner, posted a 27.2 per cent fall in second-quarter net profit on Tuesday, missing analysts' forecasts.

Net profit for the three months to June 30 was SAR270 million ($72 million) versus SAR370.8 million ($98.8 million) in the corresponding period of 2014, it said in a bourse statement.

Three analysts surveyed by Reuters had forecast on average that Ma'aden would report a net profit of 380.4 million ($101.4 million). - Reuters