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Southern Cement Forecasts Quarterly Profit to Rise

(Corrects name of company in first paragraph.)

Southern Province Cement Co. (SOCCO), Saudi Arabia’s biggest cement producer by market value, said second- quarter profit will rise an estimated 28 percent to 237 million riyals from 185 million riyals in the year-earlier period.

Sixth-month earnings per share are estimated at 3.31 riyals, compared with the 2.68 riyals during the year-earlier period, the company said in a statement on the Saudi bourse website today.

To contact the reporter on this story: Glen Carey in Dubai at gcarey8@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net

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