Southern Province Cement's net profits fall to SAR3.5m in 3Q18

Southern Province Cement (SPC) reported a net profit of SAR5.3m (US$1.41m) in 3Q18, down 65 per cent QoQ and down 91 per cent YoY. 

"...with the current economic situation, low construction activities and high competition we don’t believe prices are going up in the near term," Al Rajhi added.

In terms of sales, 4Q18 should witness a slight increase in profits for SPC as there are no holiday breaks, reported the Argraam news site.