Saudi Arabia: Eastern Province Cement Company has announced its interim financial results for the three months ending 31 March 2011. Its net profit was 22.1 m US dollars, compared to 24.3m US dollars for the corresponding quarter of 2010, a decrease of 9.8%. Its gross profit was 26.1 m US dollars a 7.5% drop compared to the 28.3m US dollars that it made in 2010. The company cited an increase in its operating costs due to an increase in the costs of labour and power and an increase in depreciation. It also said that there had been an increase in the cost of distribution.
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