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Al Jouf Cement posts 161% surge in Q4 profit

Al Jouf Cement posts 161% surge in Q4 profit
JOUF CEMENT
3091
-1.55% 11.40 -0.18

Al Jouf Cement Co. posted SAR 20.7 million net profit for the fourth quarter of 2014, with an increase by 160.49% year-over-year from SAR 7.9 million and 141.26% quarter-on-quarter from SAR 8.6 million.

Meanwhile, FY14 net profit amounted to SAR 60.4 million, with a rise by 11.69% from SAR 54.1 million a year earlier.

The company attributed the profit rise to higher sales and lower cost of sales.

Photo Credit: Arabianeye-Reuters