Qatar National Cement Co profit reaches US$36.3m Jan-Sept 2004

Qatar National Cement Co profit reaches US$36.3m Jan-Sept 2004
Published: 20 October 2004

The Qatar National Cement Company (QNCC) registered a net profit of 132m Qatari riyals (US$36.3m) in the first nine months of 2004, up from 111m riyals (US$30.5m) in the same period of 2003.

QNCC sales increased to about 323m riyals ($88.74m) in the first nine months of 2004 from 213m ($58.5m) in the same period of 2003 and shareholders’ equity climbed to 1.074 bln riyals ($295.1m) from 886m ($243.4m).

QNCC increased its net profit to 95.7m riyals (US$26.3m) in the first half of 2004, up 13.5 per cent YoY and its sales rose to 308.8m riyals (US$84.8m) from 143.4m riyals (US$39.4m).

QNCC awarded in early June 2004 the French FCB Ciment a $160m (128 mln euro) contract for the building of its third cement plant with a design daily capacity of 4,000t of clinker. The new plant is to be completed in 27 months. As part of the project, FCB Ciment will add over a 17-month period a new cement mill, which will use imported clinker.