Cement News tagged under: Saudi Cement Co
Saudi Cement sees drop in 3Q profit06 November 2023, Published under Cement NewsSaudi Cement Co reported a 15.4 per cent drop in quarterly net profit after tax and zakat to SAR68.3m (US$18.2M) in the 3Q23 when compared with the year-ago period when net profit reached SAR80.7m. Sales in the 3Q23 fell four per cent YoY to SAR315m to SAR328.1m, due to a drop in volumes and price of local sales. Selling and distribution expenses as well as general and administrative expenses increased. Financial charges were also higher. |
Saudi Cement Co records 13% increase in net profit04 March 2020, Published under Cement NewsSaudi Cement Co has seen a 12.7 per cent YoY increase in net profit to SAR451.4m (US$120.37m) for the full-year 2019 period, compared with SAR400.5m in the previous year. Total sales for the company also advanced 28.6 per cent YoY to SAR1.44bn from SAR1.12bn. |
Saudi Arabia records 22% production increase in December09 January 2020, Published under Cement NewsSaudi Arabian cement sales rose 24.2 per cent YoY in terms of volume in December 2019, while total production increased 21.7 per cent to 4.7Mt from 3.86Mt, according to Mubasher. Cement inventories in the country declined 0.6 per cent YoY to 1.18Mt in the last month of 2019. Southern Province Cement Co recorded the highest volume of sales during the month, totalling around 708,000t, followed by Saudi Cement Co with 586,000t. |
Saudi Cement Co sees 7% decline in 1Q net profit01 May 2019, Published under Cement NewsSaudi Cement Co reported a 6.9 per cent YoY fall in its net profit in the 1Q19. After taxes and zakat, net profit reached SAR132.4m (US$35.3m), down from SAR142.2m in the 1Q18, according to a statement to the Saudi Stock Exchange on Tuesday. The YoY drop in profit was attributed to higher sales and marketing expenses, a rise in general and administrative expenses, a growth in Islamic financing as well as a decline in the company’s share in net results of associates. When compared with th... |
Saudi cement sales fall 9% in January13 February 2019, Published under Cement NewsCement sales in Saudi Arabia declined by nine per cent in January 2019 when compared with sales in the previous year. Sales volumes of companies listed on the Tadawul fell 9.3 per cent YoY to 3.7Mt, according to a monthly report by Yamama Cement. Cement stockpiles increased to 1.12Mt from 1.05Mt. Southern Province Cement Co posted the highest sales in January, up 27 per cent YoY to 569,000t. Saudi Cement Co followed with sales of 452,000t, representing a YoY decrease of 11.7 per cent. N... |
Saudi cement production falls 7% in April11 May 2018, Published under Cement NewsThe total production of Saudi cement companies fell 7.4 per cent YoY in April 2018, declining to 4.2Mt from 4.54Mt. Furthermore, sales in the country dropped 9.5 per cent YoY in the same period, according to a report released by Yamama Cement Co. However, cement inventories rose 4.6 per cent to 1.19Mt in April. Elsewhere, Saudi Cement Co reported a 7.9 per cent increase in sales volume to 519,000t for the April period. Northern Region Cement Co announced a seven per cent YoY decrease in sa... |
Saudi Arabia: Yanbu, All Jouf and Saudi Cement see fall in 3Q16 profits19 October 2016, Published under Cement NewsMore Saudi cement producers have reported a fall in profits for the third quarter of 2016. The decline in profits were attributed to lower sales and a drop in average selling prices as competition intensified amid weaker demand. Higher oil prices have also been cited as a major factor in the decrease. Yanbu Cement company recorded a 35.9 per cent drop in profits during the period from SAR145m (US$38.7m) in 3Q15 to SAR93m (US$24.8m), according to a bourse filing. Profits also fell QoQ, by ... |
Saudi Cement to sell 40% stake in Kuwaiti firm26 May 2016, Published under Cement NewsSaudi Cement Company announced signing a contract to sell its entire stake of 40 per cent in Group International Cement Company, a Kuwaiti closed joint stock company. The total value of the contract amounts to KWD1.989m (US$6.58m/SAR 24.7m), the company said in a filing to the Saudi Stock Exchange. "The financial impact will be seen in the company's profits for the 2Q016 as a gain from selling of investment amounting to KWD50,000 after considering exchange rate differences (increase... |
Saudi Cement Co to temporarily halt Kiln Line 608 February 2016, Published under Cement NewsSaudi Cement Co has decided to temporarily stop kiln 6, which has a capacity of 3500tpd, until domestic market conditions improve, including the lifting of the export ban. The company during a board meeting on 4 February discussed the current market conditions and continuation of export ban, which has led to a rise in clinker inventory to high levels. Since Kiln Line 6's output would have been added to the 2016 inventory levels, which has already reached around 4Mt, it is not expected ... |
Saudi Cement Co reports drop in 4Q profit19 January 2016, Published under Cement NewsSaudi Cement Co reported a 32.8 per cent drop in fourth-quarter net profit on account of lower sales and an impairment charge for two kilns. In the three months to the 31 December 2015, the cement producer posted a net profit of SAR180m (US$48.03m), down from SAR268m in the corresponding period of 2014, the company said in a bourse filing. The drop was attributed to lower sales, and booking an impairment for two kilns at its Hofuf plant. The company had said last month it would book a SAR... |