Saudi Cement Company, a Saudi joint stock company operating two cement plants in the kingdom, posted a 53.4 per cent rise in first-quarter net profit, beating estimates.

The firm made a net profit of SR325.6 million ($86.8 million) in the period, compared with SR210.8 million a year earlier, it said in a bourse statement on Saturday.

Analysts polled by Reuters had forecast average earnings of SR269.3 million. – Reuters