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Southern Province Cement sees decline in sales in third quarter of 2023

Saudi Arabia: During the third quarter of 2023, Southern Province Cement reported sales of US$76.2m. This represents an 11% drop year-on-year from US$86.1m during the same quarter in 2022. Reuters has reported that the company noted lower local demand for cement. Meanwhile, its net profit dropped by 41% to US$14.1m from US$23.7m, amid a year-on-year rise in operating expenses.


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