Two Saudi Arabian cement producers said yesterday profit fell in the fourth quarter on lower sales volumes following a government decision to ban exports.

Yamama Cement, the country’s third largest cement producer, said net income in the fourth quarter of this year has dropped 33 per cent to 85.1 million riyals ($22.69m) from 126.9m riyals in the corresponding period in 2007.

“The reason for the decline (is) lower sales volumes due to the decision to ban cement export as well as the periodic maintenance of some main production lines,” Yamama said in a statement on the bourse website.

Earlier, Tabuk Cement said net profit in the fourth quarter had fallen more than 68pc on lower sales and rising costs as a ban on exports kicked in.

In a regulatory filing, the cement producer said net income in the fourth quarter was 14.5 million riyal compared with 45.7m in the same period in 2007.

The firm said the decline was down to renovation work at its Amrat plant which led to a fall in production and rise in costs.

“In addition (there was) a decline in sales and revenues,” the firm said.