Riyadh – Mubasher: Saudi Arabia’s Southern Province Cement Company (SPCC) on Tuesday announced signing a three-month contract with an entity to sell 20,000 cement tonnes to Yemen.
The first shipment was exported on Monday, 3 December, according to a statement to the Saudi Stock Exchange (Tadawul).
SPCC further noted that the deal’s financial impact will be reflected in its financial results over the coming period.
The Saudi cement company last reported a 90.7% year-on-year profit drop for the third quarter of 2018, reaching SAR 5.3 million, compared to SAR 57 million in Q3-17.
Profits also slumped 44.35% to SAR 143 million in the first nine months of 2018, versus SAR 257 million in the prior-year period.
SPCC’s stock inched up 0.54% to close Monday's trading session at SAR 37.50.
