Saudi Cement second quarter net profit jumps 36 percent
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 Reuters
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)
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