Wednesday, Oct 19, 2011
(This item was originally published on Tuesday.)
DUBAI (Zawya Dow Jones)--Saudi Arabia's Al Jouf Cement Co. (3091.SA) said Tuesday its third-quarter net profit surged to 14.4 million Saudi riyals ($3.8 million), compared with SAR5 million a year earlier, on higher sales and output.
Earnings per share for the first nine months of the year came in at SAR0.53, compared with losses per share of SAR0.02 a year earlier, it said in a statement posted on the Saudi bourse website.
The company, which started trading on the kingdom's bourse in August last year, said its third-quarter operating profit stood at SAR16.6 million, compared with SAR12.4 million a year earlier.
In July, Jouf Cement said the Ministry of Commerce and Industry didn't renew its export license.
The company didn't give a reason for the ministry's move, but said it would increase its cement prices to offset the loss from the export ban.
-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com
(END) Dow Jones Newswires
19-10-11 0354GMT
