Cement News tagged under: Al Jouf Cement

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Saudi Arabian cement sales down 16% in January

15 February 2017, Published under Cement News

Domestic cement deliveries in Saudi Arabia in January 2017 were 15.9 per cent lower than in the same month the previous year, according to statistics released by Yamama Cement. At 4.78Mt, cement sales in the country were significantly below the January 2016 figure of 5.68Mt. Meanwhile, Saudi producers continue to amass clinker stocks, adding another 0.4Mt to their reserves in January. Clinker stocks now amount to 28.5Mt – enough to supply more than six months of Saudi cement demand at ...

Saudi Arabia: Yanbu, All Jouf and Saudi Cement see fall in 3Q16 profits

19 October 2016, Published under Cement News

More 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 Arabia: sales volumes fall 27%

25 July 2016, Published under Cement News

Total cement sales in Saudi Arabia declined 27 per cent YoY and 39.6 per cent MoM in June, to 4.1Mt. Cement production in June was 3.66Mt, down 25 per cent YoY and 34.6 per cent MoM. June’s fall in sales volume can be attributed to Ramadan, which fell solely in June this year, unlike last year when it was split across June and July. All cement producers reported a decline in sales during the month. Al Jouf, Saudi and City Cement experienced the lowest declines in sales, with figures falli...

Al Jouf Cement 4% decline in 1Q profit

20 April 2016, Published under Cement News

Saudi Arabian cement producer, Al Jouf Cement Co posted on Tuesday a net profit of SAR 24.72m (US$6.59m) in the first quarter of 2016, four per cent down from SAR 25.76m (US$6.87m) in 1Q15. The fall in in profit was a result to the drop in the average selling price and higher finance charges and expenses of Zakat in this period, despite the increase in sales volume and other revenue from an inventory adjustment, according to a bourse filing

Saudi: Al Jouf Cement signs financing agreement with Alinma Bank

16 December 2015, Published under Cement News

Al Jouf Cement has signed a Murabaha financing agreement with Alinma Bank at a total value of SAR350m. The financing period extends from 15 December 2015 until 14 December 2022, with a grace period of two years, the cement producer said in a bourse statement. The facility, secured against a promissory note, is aimed at rolling over the company's outstanding loans and financing some of the current projects. Al Jouf's second production line will help repay this loan, the statement added

Al Jouf net profit advances 11.6% in 2014

29 January 2015, Published under Cement News

Saudi-based Al Jouf Cement recorded a net profit of SAR60.4m (US$16.1m) for 2014, up from SAR54.1m in 2013, the company said in a statement to the Saudi Stock Exchange. The increase was attributed to lower cost of sales and general and marketing expenses, according to the company. Earnings per share (EPS) stood at SAR 0.46 in 2014, versus SAR0.42 a year ago. Operating profit rose to SAR72.5m, up 16 per cent YoY on the year and the gross profit came in at SAR103.5m, up from SAR97m. ...

Saudi: Al Jouf Cement's 4Q14 profit surges

22 January 2015, Published under Cement News

Al Jouf Cement Co posted a SAR20.7m (US$5.51m) net profit for the fourth quarter of 2014, with an increase by 160.49 per cent YoY from SAR7.9m and 141.26 per cent QoQ from SAR8.6m. Meanwhile, FY14 net profit amounted to SAR60.4m, with a rise by 11.69 per cent from SAR54.1m a year earlier. The company attributed the profit rise to higher sales and lower cost of sales.

First quarter launch for Al Jouf Line 2

05 January 2015, Published under Cement News

Al Jouf Cement is to launch commercial production from its second kiln line in the first quarter of 2015, the Saudi-based cement producer said in a bourse statement. The new 5000tpd line is currently undergoing trial operations which have taken longer than expected, the company noted.

Al Jouf sees double-digit rise in 3Q net profit, Saudi Arabia

30 October 2014, Published under Cement News

Saudi-based Al Jouf Cement Co posted a 17 per cent YoY increase in its third-quarter net profit to SAR8.6m (US$2.29m), boosted by higher sale volumes. Operating profit grew almost 19 per cent in annual terms to SAR2.5m. Gross profit rose 10 per cent to nearly SAR19.7m. During January-September 2014, the company saw its net profit fall 14 per cent on an annual basis to SAR39.7m. Earnings per share (EPS) fell to SAR0.31 from SAR0.35. Operating profit narrowed to SAR50.12m from SAR56.3...

Saudi Arabia: Al Jouf Cement extends second clinker line trial

29 September 2014, Published under Cement News

Al Jouf Cement has extended the experimental operation of its second clinker line until the end of the 4Q14 in an attempt to reach full production capacity. The new line will not make a contribution to company finances until 1Q15 when full commercial production will commence.