Riyadh-Mubasher: Northern Cement reported an increase of 53.46% in net profits for the fourth quarter of 2015.
The company’s net profits stood at SAR 39.61 million in Q4-2015, compared with SAR 25.81 million for the similar period of the previous year.
Meanwhile, the company’s net earnings reached SAR 206.91 million up 3.45% from SAR 200 million a year earlier.
The firm attributed its profit growth in the fourth quarter of 2015 to the recording of a provision in respect to the decline of investments with value of SAR 30 million.
