Riyadh – Mubasher: Arabian Cement on Monday posted a 276% year-on-year surge in its net profits for the fourth quarter of 2017.

The cement producer's net profits amounted to SAR 97 million during Q4-17, compared to SAR 25.8 million in the same period a year earlier, according to a statement to the Saudi Stock Exchange (Tadawul).

Quarter-on-quarter, the firm's profits levelled down 46.34%.

Arabian Cement’s net profits decreased to SAR 262.7 million in the full year 2017, from SAR 489.6 million the previous year.

The Saudi cement company attributed the decline in its profits during the last year to a drop in sales’ volume and prices, as well as a fall of other revenues.

Arabian Cement’s stock shed 0.29%, closing Monday at SAR 34.70.