Saudi Arabia: Tabuk third-quarter profit down 24%

Tabuk Cement Co recorded SAR21.6m (US$5.76m) net profit in the third quarter of 2014, a decline of 23.94 per cent YoY from SAR28.4m. On a quarterly basis, net earnings were down 49.88 per cent from SAR43.1m.

In the first nine months of 2014, net profit amounted to SAR108.7m, down 19.66 per cent compared with SAR135.3m a year earlier.