JEDDAH, Saudi Arabia, (Reuters) – Saudi Cement Co posted a 39.7 percent rise in its fourth-quarter net profit, beating analyst forecasts, it said in a bourse statement on Monday.

The firm posted a net profit of 212.3 million riyals ($56.6 million) in the fourth-quarter compared with 152 million riyals in the same period a year earlier.

Analysts polled by Reuters had on average expected Saudi Cement to record a net profit of 202.7 million riyals.