Saudi cement producer Qassim Cement Company (QCC) posted a net profit of 58.6 mln Saudi riyals (US$15.6m) for the first quarter of 2005, up 3.8 per cent year-on-year.  The company registered a 23.7 per cent rise in total operating expenses to 3.6 mln riyals ($960,000) in the first three months of 2005. Gross profit grew 2.1 per cent to 61.7 mln riyals ($16.5m) for January to March 2005.  QCC’s total assets stood at 1.357 bln riyals ($362m) at end-March 2005.