Saudi Cement's shares retreat despite upbeat earnings

Shares in Saudi Cement retreated marginally on Monday, as the second-largest cement company in Saudi Arabia reported improved fourth quarter (Q4) earnings for 2018.

The company’s Q4 2018 net profit amounted to 125 million Saudi riyals ($33.33 million) – a 16.8 percent increase on its 107 million Saudi riyals net profit in Q4 2017.

Saudi Cement’s shares dropped 0.7 percent on Monday, but have added 16.37 percent so far since the start of the year 2019.