Cement News tagged under: Al Jouf Cement

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Al-Jouf Cement returns to quarterly profit

23 July 2014, Published under Cement News

Al Jouf Cement has posted a 16.4 per cent rise in second-quarter net profit following five consecutive quarterly declines. A gradual improvement in shipments for the three-month period is also leading the Saudi-based company to anticipate a full recovery by year-end. During the second quarter of the year, the company posted a net profit of SAR16.1m. The results were slightly above analyst consensus estimates of SAR13.5m. Cement dispatches rose 1.6 per cent YoY to 368,000t showing sign...

Al Jouf completes supply agreement

12 May 2014, Published under Cement News

Saudi-Arabia based Al Jouf Cement said in a bourse statement today that it has completed supplying clinker and cement according to the contracts signed with Al-Rajhi Factory in Jordan. The company added that the contract value totals nearly SAR47m (US$12.5m).

Al Jouf first-quarter earnings drop, Saudi Arabia

23 April 2014, Published under Cement News

Al Jouf Cement posted a drop in earnings of about 40 per cent YoY to SAR15m (US$4m), missing Al-Rajhi Capital’s estimates of SAR 17.8m but exceeding consensus estimate of SAR13m, the research house said in a recent report. Al-Rajhi Capita believes the cement producer’s weak performance was on account of the declining sales volumes given the stiff competition it faces from competitors in the northern region, coupled with the falling demand due to the slowdown in construction activities.

Al Jouf signs clinker supply agreement with Jordanian producer

06 March 2014, Published under Cement News

Saudi cement producer and trader Al Jouf Cement said in a bourse statement that it has signed a SAR28m (US$7.5m) agreement with Jordan-based Al Rajhi Cement, under which the latter will supply clinker to Al Jouf Cement.

Al Jouf reports 75% drop in quarterly net profit, Saudi Arabia

28 January 2014, Published under Cement News

Al Jouf Cement posted weak fourth-quarterly financial results, with earnings declining by 74.59 per cent YoY and 16 per cent QoQ  to SAR6.1m (US$1.6m). The results missed Al-Rajhi Capital estimates of SAR22m and consensus forecast of SAR20m. Al-Rajhi believes that the company’s weak performance was a result of a decline in the value and volume of sales due to sluggish cement demand during the quarter following government’s initiatives to expel 2m illegal expatriate labourers which led to t...

Kiln to close at Saudi Arabian Cement Co

20 December 2013, Published under Cement News

Saudi cement producer and trader Al Jouf Cement said in a bourse filing it will shut down its production Kiln line 6 for scheduled maintenance from 21 December until 7 January. The cement company said that the stoppage will not impact its ability to meet contractual obligations to clients, adding it will announce its cost later.

Al Jouf begins trial production of new line, Saudi Arabia

16 December 2013, Published under Cement News

Al Jouf Cement has launched trial operations of its second production line, the Saudi-based cement producer said in a bourse statement. The new kiln line has a clinker capacity of 5000tpd. In late October, the company had signed an agreement with Al Rajhi Bank for a SAR400m (US$106.7m) loan to partially finance the construction of the new line, to be repaid by June 2019.

Saudi’s Al Jouf signs US$106.7m loan with Al Rajhi Bank

01 October 2013, Published under Cement News

Saudi cement producer and trader Al Jouf Cement has signed an agreement with the country’s largest Islamic bank Al Rajhi Bank for a SAR400m (US$106.7m) loan to partially finance the construction of a second production line. The loan is to be repaid by June 2019. At present, the company has a production capacity of 1.75Mta.

Saudi cement market records further volume expansion

30 September 2013, Published under Cement News

Saudi cement companies saw profits rise 8.2 per cent as cement demand in the kingdom continued to expand on the back of large projects, said Global Research in its June 2013 report. Cement demand in the 1Q13 stood at 15.5Mt compared to 14Mt in the same period last year. Saudi Cement and Southern Province Cement lead the sales volume rankings, resulting in market shares of 15.7 and 13 per cent, respectively. Cement output rose 16.3 per cent to 13.1Mt while clinker production increased 9...

Al Jouf undertakes unscheduled kiln maintenance

20 September 2013, Published under Cement News

Al Jouf Cement has temporarily halted its production line for unscheduled maintenance until 5 October, the Saudi-based company said in a statement to the bourse. Al Jouf Cement said that the shutdown will cost SAR18m (USD 4.8m/EUR 3.5m), but will not impact its ability to meet contractual obligations to clients. The company also stopped production in the last two weeks of June for unscheduled maintenance.