RIYADH: Saudi Arabia’s Yanbu Cement Co expects its net profit in the fourth quarter to fall 35.5 percent, company data showed on Monday.
Yanbu Cement said in a statement that preliminary results show its net profit this year would reach SR478 million ($127.5 million) down from SR559.7 million in the previous year.
The firm has reported that its net profit in the nine months to end-September stood at SR400.5 million. This means Yanbu expects its fourth-quarter net profit to reach SR77.5 million, down from SR120.2 million a year earlier.