QNCC net profit edges ahead, Qatar

QNCC net profit edges ahead, Qatar
Published: 20 July 2015

Qatar National Cement Co's (QNCC) net profit rose by 1.97 per cent to QAR242.6m (US$66.6m) for the first half of this year compared to QAR237.9m in the comparative period of 2014.

The company reported earnings per Share (EPS) of QAR 4.49 in 1H15 compared to QAR 4.40 a year earlier.

Established in 1965, QNCC is the dominant producer in Qatar with a 55 per cent market share. The firm produces a range of products, including OPC (42.5), SRC and PFA cement (32.5R).

The company, in which the government has a 40 per cent stake, operates four production lines located at Umm Bab, 82km from Doha on the west coast. The facility has a 5.115Mta cement capacity and a clinker capacity of 11,900tpd (3.93Mta) with the largest line being Umm Bab IV (5000tpd). 

A fifth line is currently being built, with equipment supplied by Fives FCB (France) with two grinding mills (estimated capacity 1.85Mta) starting production by January 2016. The new 5000tpd clinker line is scheduled to come online in September 2016.