Company made $42.7m ending December, compared to $38.6m in same period last year
Saudi Arabia's Yamama Cement posted a 10 percent increase in its fourth quarter net profits, the company said in a bourse statement on Saturday.
Yamama made $42.7m in the three months ending December, compared to $38.6m in the same period a year earlier, the statement said.
Operating profit for the fourth quarter increased by 11 percent to $44.2m.
Saudi Cement companies are still faced with an export ban imposed in 2008 after cement prices skyrocketed as firms were seeking more lucrative offers abroad, leading to a shortage of cement in the local market.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.