Egypt-based Arabian Cement, one of the largest cement firms in the region, has reported a net profit of SR97.2 million ($26 million) in the third quarter, up 8.6 per cent over the same period in 2015.

The growth in net income was primarily attributed to sources such as higher other net revenue (SR5.9 million), lower finance expenses (SR4.4 million), and lower minority interest share in subsidiary companies.

The reported net profit was, however, down 32 per cent quarter on quarter, said a statement from the company.

The company’s top-line too declined 24 per cent year-on-year to SR249 million, mainly due to the decline in sales volume by 24 per cent year-on-year as well as lower average realised per tonne, given the weak demand in the Western region.-TradeArabia News Service