October 14, 2012 / 1:21 PM / 5 years ago

Saudi Cement Q3 net profit rises 7.3 percent on demand growth

* Q3 net profit 210 mln riyals vs 195 mln riyals yr-ago - statement

* In line with analysts’ average expectation

* Profit up on higher local cement, clinker demand (Adds detail)

RIYADH, Oct 14 (Reuters) - Saudi Cement Co posted a 7.3 percent rise in its third-quarter net profit thanks to higher local demand, it said in a bourse statement on Sunday, meeting analyst expectations.

The firm posted a net profit of 210 million riyals ($56 million) in the three months to September 30, compared with 195 million riyals in the same period of 2011.

Eight analysts polled by Reuters expected the firm to post 210 million riyals, on average, for the third-quarter.

Saudi Cement attributed its results to increased local demand for cement and clinker, it said in the statement.

Operational profit for the period climbed by 6.8 percent to 219 million riyals. (Reporting by Angus McDowall; Editing by David French)

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