Southern Province Cement Co, one of Saudi Arabia's top three cement firms by market value, said on Sunday its net profit in 2009 would be 7.8 percent lower than in 2008. SPCC said preleminary results show that its net profit this year would reach 729 million riyals ($194.4 million) down from 791 million riyals a year earlier.
Based on previous quarterly earnings, this means that SPCC expects its net profit during the fourth quarter to be flat at 176 million riyals.