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17-04-14

Saudi Cement profit down 16 percent in Q1

(MENAFN) Net profit of Saudi Cement Co. dropped 16 percent in the first quarter of the current year on the back of lower domestic demand, according to Arab News. The company's profit was estimated at USD76.25 million during the quarter compared to USD90.64 million in the same quarter 2013. Saudi Cement said it also had exposure to an associated company"s loss after the unit took an impairment of some of its assets.