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02-06-14

Saudi industrial sector posts 32.7 percent drop in net profit

(MENAFN) Saudi listed construction and building firms saw a drop in net profit to reach USD86.106 million in the first three months of 2014, down 32.7 percent from the same period 2013, according to Arab News. During the quarter, the sector"s profit was 10 percent higher than the third quarter 2013 reaching USD78.642 million. Sales of the sector dropped by 1.36 percent to reach USD1.58 billion compared to USD1.607 billion in the same period last year.