Saudi Cement 4Q11 up on higher demand

Saudi Cement Co posted a 39.7 per cent rise in its 4Q11 net profit, on higher production and demand.

Net profit for the quarter reached SAR212.3m (US$56.6m) compared to SAR152m in the same period a year earlier.

"The rise in the yearly and fourth quarter net profit compared to the same period a year earlier is due to the rise in production capabilities from new lines... in addition to local demand growth during the period," the company said.

Fourth quarter operating profit increased 39.5 per cent to SAR220m compared with SAR157.7m in the same period a year earlier, the company added.