Register for our free newsletter

 
 
Latest News

Saudi Cement second quarter net profit jumps 36 percent

http://www.dreamstime.com/-image15247709

Saudi Cement Co posted a net profit of 290.2 million riyals ($77.4 million) for the second quarter on Saturday, a rise of 36 percent from a year earlier.

July 14, 2012 8:59 by



Saudi Cement Co posted a net profit of 290.2 million riyals ($77.4 million) for the second quarter on Saturday, a rise of 36 percent from a year earlier.

It cited growing domestic demand for cement and clinker. The Saudi construction sector has been boosted over the past year by ramped-up government spending, including a pledge to build a quarter of a million new houses as well as schools and hospitals.

($1 = 3.7502 Saudi riyals)

(Reporting by Amena Bakr; Editing by Andrew Torchia)



Tags: , , , ,

Leave a Comment