Saudi Cement posts 31.4% rise in 4Q12 net profit

Saudi Cement Co posted a 31.4 per cent rise in its fourth-quarter net profit, fuelled by higher local demand, it said in a bourse statement on Tuesday.

The firm made a net profit of SAR277.7m (US$74m) in the three months compared with SAR211.4m in the same period of 2011.

Operating profit rose 36.8 per cent to SAR300.9m, an increase from SAR220m in the final quarter of 2011.