Riyadh – Mubasher: Qassim Cement Co on Thursday announced signing a contract with Kuwait’s Al-Arada for Building Materials Co. to export 120,000 tonnes of cement.

The export agreement is to start from 1 March until 31 December 2019, according to a statement to the Saudi Stock Exchange (Tadawul).

Qassim Cement further noted that the deal’s financial impact will be included in the next quarters’ financial statements.

The Tadawul-listed cement firm last reported a 41.12% year-on-year drop in profits for the fourth quarter of 2018, reaching SAR 39.56 million, from SAR 67.19 million.

By 10:57 am Saudi time, Qassim Cement Co's stock levelled up 0.38% to SAR 39.85.