Cement News tagged under: Saudi Arabia
Southern Province revenue down 25% in 1Q2220 May 2022, Published under Cement NewsSaudi Arabia-based Southern Province Cement Co has posted a revenue of SAR330m (US$88m) for the first three months of 2022. This represents a 25 per cent drop when compared with the 1Q21. Cement sales volumes were down 23.7 per cent YoY to 1.6Mt. Gross profit declined 42.3 per cent YoY while operating profit decreased 47 per cent YoY in the 1Q22. Gross margins were down to 32.2 per cent in the 3M22 from 41.9 per cent in the 3M21. "For Q1 2022, cement volume of SPCC fell by 23.7 per cen... |
Tabuk Cement sees 1Q losses20 May 2022, Published under Cement NewsSaudi cement producer Tabuk Cement Co reported revenues of SAR62.18m (US$16.58m), down 19.2 per cent YoY, in the January-March 2022 period, according to the company Net losses after zakat and tax were posted at SAR6.92 in the1Q22, against net profits of SAR10.06m in the 1Q21. In 2021 Tabuk Cement Co posted a 65.6 per cent drop in net profits after zakat and tax to SAR17.76m, compared to SAR51.58m in 2020. |
Hail Cement posts 1Q22 sales losses of SAR6.9m19 May 2022, Published under Cement NewsSaudi Arabia's Hail Cement Co has reported losses of SAR6.9m (US$1.8m) in the 1Q22 after it witnessed a drop in sales. The cement producer had made profits of SAR25.9m in the same period last year, but a 16 per cent decline in sales weighed on the current year’s results, a bourse filing showed. The company's revenue went down from SAR82m to SAR69m YoY. Hail Cement also attributed the results to an increase in expenses, which led to operating losses of SAR7.36m during the quarter. |
Arabian Cement 1Q profits see 37% drop17 May 2022, Published under Cement NewsArabian Cement’ s net profit after zakat and tax declined 37 per cent YoY to SAR41.9m (US$11.2m) in the first quarter of 2022. When compared with the fourth quarter of 2021, net profits surged by 79.3 per cent from SAR23.3m. Revenues decreased 19.3 per cent YoY to SAR259.3m in the 1Q22 from SAR321.5m, according to a bourse filing. When compared with the previous quarter, 4Q21, revenues edged up by 1.4 per cent from SAR255.8m. |
Eastern Province Cement sees 52% drop in 1Q profits13 May 2022, Published under Cement NewsSaudi Arabian cement producer Eastern Province Cement Co reported a net profit after zakat and tax of SAR29m (US$7.7m) in the 1Q22, down 51.7 per cent YoY. Revenues declined 25.8 per cent YoY to SAR161m in the 1Q22 from SAR217m. |
Yanbu Cement acquires Yanbu Saudi Kuwaiti Paper Products Co25 April 2022, Published under Cement NewsSaudi’s Yanbu Cement has acquired shares owned by Kuwait’s Shuaiba Industrial Co in its unit Yanbu Saudi Kuwaiti Paper Products Co for SAR32.3m (US$8.6m). The transaction allowed the transfer of a 40 per cent stake in the paper manufacturer to Yanbu Cement, making it the full owner of the former, according to a bourse filing. Yanbu Cement will fund the transaction from its own resources. In line with the company’s expansion and growth visions, the deal aims to provide material a... |
Yamama Cement signs SAR1.633bn financing agreement04 April 2022, Published under Cement NewsYamama Cement Co signed a Shariah-compliant financing agreement on 31 March for SAR1.663bn (US$435.4m) with Saudi National Bank, the cement producer said in a statement to the Tadawul. The agreement covers long-term financing of SAR800m, for a period of eight years (including three years of grace period), and refinancing part of the existing long-term loans amounting to SAR563m, for a period of four years to repay part of existing loans. It also includes short-term financing of SAR... |
Riyadh Cement sees 4% drop in net profits in 202130 March 2022, Published under Cement NewsSaudi cement company Riyadh Cement Co posted a 3.8 per cent decline in net profits after zakat and tax to SAR211.64m in 2021, when compared with 2020 when net profits after zakat and tax reached SAR219.95m. Revenues were up 13.7 per cent to SAR671.06m in 2021 from SAR590.29m in 2020, according to a bourse filing. |
Northern Region Cement Co announces net profits of SAR107m in 202129 March 2022, Published under Cement NewsNorthern Region Cement Co has achieved net profits after zakat (charitable donations) and tax worth SAR106.67m (US$28.4m) in 2021, a decline of 1.4 per cent from SAR108.22m in 2020. Revenues fell by 13.7 per cent to SAR561.91m last year from SAR651.48m in 2020. In the 3Q21 the Saudi listed firm reported net profit after zakat and tax worth SAR18.35m, an YoY drop of 14 per cent from SAR21.43m. |
Tabuk Cement Co sees profits fall by 65% in 202124 March 2022, Published under Cement NewsSaudi Arabia’s Tabuk Cement Co saw its profits drop by 65 per cent in 2021 on the back of lower sales. Profits of the company dropped from SAR51.6m(US$13.8m) to SAR17.8m, according to a bourse filing. This came as sales fell by 17.3 per cent to SAR229m. |