Saudi Northern Region Cement ​records SAR 34​.2​ mln profit drop​ in audited results

​Saudi Arabia-based Northern Region Cement said​on Tuesday it recorded a ​SAR 200 million profit in its audited​financials ​for 2014, or SAR 1.11 a share, compared with preliminary results of SAR 234.2 million after registering provisions in an affiliate company.

In 2013, the bourse-listed ​company had ​recorded SAR 234.6 million in profit.

Fourth quarter’s profit in 2014 was at ​SAR 25.7 million, compared to unaudited results,​ which showed a SAR 60 million profit.

The company said its profit fell due to higher costs of sales and marketing. Its cement sales had also dropped.