Cement News tagged under: Arabian Cement

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Arabian Cement announces net loss in 1Q18

24 April 2018, Published under Cement News

Arabian Cement has announced a 106 per cent YoY decline in net profit for the first quarter of the year, falling from SAR100.7m (US$26.85m) to a loss of SAR6.1m, according to Reuters. The Saudi Arabian cement company also recorded a 26.6 per cent fall in net sales to SAR199.7m, compared with SAR272.1m of the year-ago period.

Arabian Cement posts SAR97m profits in 4Q17

20 February 2018, Published under Cement News

Arabian Cement reported a 276YoY surge in net profits of SAR97m (US$25.9m) in 4Q17, compared to SAR25.8m in 4Q16, according to a statement to the Saudi Stock Exchange. However, QoQ profits fell 46.3 per cent. For the full-year 2017, the cement producer’s profits decreased to SAR262.7m from SAR489.6m in 2016. The company attributed to decline in profits to a drop in sales volumes and prices as well as a fall of other revenues.

Arabian Cement plans expansion into Africa and Asia

15 January 2018, Published under Cement News

Arabian Cement is planning to expand into regional markets in Africa and Asia to boost its profitability amid strong competition in the Egyptian market, according to reports in the Daily News Egypt. To date the company, which has a output of around 5Mta, has exported to Libya, Kenya, Madagascar, Somalia and Yemen. Arabian Cement is a joint venture between Spain-based Grupo Cementos La Unión and a group of Egyptian investors. The company recently reached an agreement with the Natio...

Arabian Cement Co profit down on lower sales and prices

10 August 2017, Published under Cement News

Saudi-based Arabian Cement Co on Wednesday announced a 74.8 per cent YoY decrease in its profits for the second quarter of 2017, attributing the drop to lower sales volumes and prices. Profits amounted to SAR35.5m (US$9.5m) in 2Q17, compared to SAR141m in 2Q16, according to statements to the Tadawul, the country's stock exchange. Profits tumbled 64.8 per cent QoQ. For the first half of the year, profits slid 62.9 per cent to SAR136.2m, from SAR366.6m in 1H16.

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...

Arabian Cement Q1 profits drop 41%

31 May 2016, Published under Cement News

Arabian Cement have announced a fall in earnings of 40.5 per cent in 1Q16. The company earned EGP34.1m (US$3.85m) in 1Q16, compared with the EGP57.3m (US$6.47m) in the same period last year, according to consolidated financial results. Further, the unconsolidated profits for 1Q also fell 40.5 per cent YoY to EGP33.3m, from EGP56m. In 2015 Arabian Cement’s consolidated profits decreased 26 per cent YoY to EGP277.2m (US$31.2m) from EGP373.7m (US$42m).

Arabian Cement approves selling frozen stocks of shareholders, Egypt

02 September 2015, Published under Cement News

Arabian Cement’s ordinary general assembly yesterday approved the selling of shareholders frozen shares. The OGM refused a Board of Directors restructure, and is to retain the same members of the Board of Directors. (Source : EGX & Arab Finance editor)

Egypt: ACC secures loan to part-finance expansion

26 February 2015, Published under Cement News

Arabian Cement Company (ACC) said it signed Wednesday an agreement with Saudi British Bank for a SAR400m (US$106.6m) Islamic financing. The loan is to be repaid over a period of five years, including a one-year grace period. The cement firm said it will use the loan to finance part of the first phase of an expansion project to enhance grinding capacity.

Egypt: Arabian Cement’s profit decline 32% in 9M14

24 October 2014, Published under Cement News

Egypt's Arabian Cement made a EGP209.57m (US$29.3m) post-tax net profit for the nine months to 30 September, according to the unaudited standalone financial results. The firm posted EGP309.3m for the same period a year earlier. Cement sales increased 17 per cent to EGP1.78bn, up from EGP1.53bn.

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...