Saudi's Arabian Cement Co has announced that it has recorded a dip of 8.6% in its net profit for the second-quarter, in line with a trend of declining profits by Saudi cement companies due to a year-long export ban.

Arabian Cement has registered a net profit of SR82.6 million in the three months to June 30, compared to SR90.4 million a year earlier.

The firm has attributed the decline in profits to the rise in operational costs and the funding for setting up new units, as well as losses in affiliated companies in the previous six months.

In the reporting quarter, the company has reported 11.7% decline in operational profits, which amounted to SR87.5 million.

As per media reports, in the coming year, Arabian Cement will introduce its first plant abroad, with the capacity of 2 million tonnes, but will hold off further expansion plans until market conditions improve.