Riyadh – Mubasher: Yamama Cement Co’s net profit for the fourth quarter of 2017 is the lowest in the company’s history, according to a recent report by NCB Capital on Thursday.

The Saudi Arabia-based firm's Q4-17 profits of SAR 16.9 million has met the company’s expectations, but it came below analysts’ estimates of SAR 29.3 million, the research firm added.

The cement producer's sales amounted to 870,000 tonnes in Q4-17, in line with estimates of 850,000 tonnes, NCB Capital highlighted.

Sales totaled SAR 169 million have beaten estimates of SAR 144 million, while average selling prices came above estimates of SAR 170 per tonne at about SAR 196 per tonne, the report indicated.

NCB Capital recommended a neutral rating on Yamama Cement at a price target (PT) of SAR 20.3.