Saudi Cement third-quarter earnings down 10%

Saudi Cement Co posted net earnings of SAR208m (US$55.5m) for the third quarter of 2015, down 10.34 per cent compared with SAR232m a year earlier.

Net earnings for the nine-month period ended 30 September also decreased by 5.21 per cent YoY from SAR806m to SAR764m.

The profit decline was due to weak sales, the cement producer said in a statement on Thursday.