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15-01-14

Saudi Cement net profit declines 8 percent in Q4

(MENAFN) Saudi Cement registered a slump in the fourth quarter at 8 percent, which the company said it resulted from lower sales and rising raw material costs, according to Arab News. The company's net profit was estimated at USD68.3 million during the quarter, down from USD74.11 million in the same period in 2012. The net profit's decline resulted from the high cost of imported clinker and the fall in sales, the company claimed.