(MENAFN) Reuters reported that Saudi Arabia's third-biggest maker of the building material, Yamamah Cement Co announced that first quarter profit increased almost 14 percent mainly because of higher sales, Khaleej Times reported.
The cement company's net income in the three months to March 31 reached $52.67 million in comparison with $47.3 million in the year-earlier period.
Companies in Saudi Arabia, the world's largest oil exporter, are developing or have announced projects in oil, gas and industries worth more than $460 billion.
On another note, Yanbu Cement Co which is the Kingdom's fourth largest producer by market value, posted its third-biggest ever quarterly profit, increasing 11 percent to $44.8 million.
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