Local demand boosts Saudi Cement Q3 net profit
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Local demand boosts Saudi Cement Q3 net profit

Local demand boosts Saudi Cement Q3 net profit

Saudi Cement Co has reported a 7.3% jump in its third-quarter net profit, thanks to higher local demand, meeting analyst expectations, Reuters has reported. The cement maker posted a net profit of SR210m ($56m) in the three months to September 30, compared with SR195m in the same period of 2011. Saudi Cement attributed the rise to increased local demand for cement and clinker. Analysts expected the company to post SR210m, on average, for the third-quarter.

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