Cement News tagged under: Arkan Building Materials

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Arkan posts net loss in 9M20

13 November 2020, Published under Cement News

UAE-based Arkan Building Materials Co has recorded a net loss of AED3.71m (US$1.01m) in the first nine months of 2020, compared to an AED36.13m profit in the corresponding period of last year. The company’s revenues fell 14 per cent YoY to AED581.02m from AED675.5m in the 9M19. The lower revenues were attributed to a decrease in cement sales volumes and falling prices due to the impact of COVID-19. "Whilst this unprecedented time has tested the resilience of many organisations, I am proud...

Abdelaziz Assad named acting CEO Arkan Building Materials

02 September 2020, Published under Cement News

UAE-based Arkan Building Materials has appointed Abdelaziz Asad as acting CEO following the departure of Abdellatif Sfaxi to pursue other career opportunities. Under the new arrangement, Mr Sfaxi will continue to work closely with Mr Asad for the next three months to ensure a smooth transition. Arkan Chairman, Engineer Jamal Salem Al Dhaheri, said: "On behalf of Arkan’s board, I would like to thank Sfaxi for his 12 years of service to the company. During his tenure as CEO he has reinforced...

Arkan Building Materials sees profits decline to AED2.1m in 1H20

11 August 2020, Published under Cement News

Arkan Building Materials reported 1H20 profits declining to AED2.1m (US$571,818) as construction activity became disrupted in UAE due to the pandemic. Last year the company reported profits in 1H19 of AED 33.7m, boosted by the sale of Emirates Cement Factory. Revenue this year has reached AED387.4m, down from AED458.8m last year. Cement revenues fell to AED196.5m from AED282.7m last year, while cement-led profit amounted to AED7.91m, down from AED45.69m. Concrete block and dry mortar revenu...

Arkan sees 14% decrease in net profit for 1Q20

04 May 2020, Published under Cement News

UAE-based Arkan Building Materials has seen a 13.8 per cent fall in net profit to AED10.53m (US$2.87m) during the first quarter of 2020, compared to AED12.21m in the year-ago period. Total revenues decreased 11.4 per cent YoY to AED208.17m from AED234.99m. "The challenging construction market has not been helped by the emergence of COVID-19, towards the end of the first quarter," said the chairman of Arkan, Jamal Salem Al Dhaheri. "The increase in operating profit is due to a better pe...

Arkan sees increase in net profit for the 9M19

08 November 2019, Published under Cement News

UAE-based Arkan Building Materials Co has recorded a net profit of AED36.13m (US$9.8m) for the first nine months of 2019, compared to AED10.2m in the corresponding period last year. However, group revenue declined 6.1 per cent YoY to AED675.50m from AED719.71m, on the back of increased competition and pressure on prices. "Achieving optimum efficiency across our business remains our utmost priority as we continue to navigate through this challenging business cycle," said Jamal Salem Al Dhah...

Arkan sees 55% net profit increase in 1H19

06 August 2019, Published under Cement News

UAE-based Arkan Building Materials has announced a 55 per cent YoY increase in net profit to AED33.8m (US$9.2m) for the 1H19. The positive result has been attributed to cost management schemes, the award of an insurance claim and proceeds from the Emirates Cement Factory sale. However, group revenue declined 8.9 per cent to AED458.9m, compared with AED503.8m in the 1H18. The fall was a result of market price pressure as export markets saw a slowdown, according to the company.

Arkan sells Emirates cement plant

15 February 2019, Published under Cement News

UAE-based Arkan Building Materials has announced the sale of its Emirates cement plant for AED50m (US$13.6m). The company also noted the permanent shutdown of Emirates Cement Co. Arkan has already received AED21.9m of the total amount, recognised in its 2018 financials as other income. The company’s main operations are based at its separate 4.5Mta facility in Al Ain.

Arkan Building Materials to co-process SPL

13 November 2018, Published under Cement News

Emirates Global Aluminium (EGA) will supply Abu Dhabi-based Arkan Building Materials with waste from its smelting operations. Arkan will co-process EGA’s spent pot lining (SPL) material in its kilns. EGA is building facilities at its Al Taweelah site to process SPL into an alternative raw material or fuel that can be used in cement plants. HE Eng Jamal Salem Al Dhaheri, chairman of Arkan, said the company would be able to reduce its dependence on fuel by using EGA's wasted spent pot lini...

Arkan to close UAE factory

21 March 2017, Published under Cement News

Building materials industrial conglomerate Arkan has announced its decision to permanently close its Emirates Cement Factory (ECF) in Al Ain, Gulf Digital News has reported. The announcement from Arkan's board comes following the successful consolidation of the company's cement business.  Arkan had announced in December that owing to significant gas and electricity price increases from 1 January 2017, it would implement a series of measures such as the temporary closure of ECF to boost ...

UAE: Arkan’s profits fall by 25% in 2016

17 February 2017, Published under Cement News

Arkan Building Materials has seen its annual profits fall by a quarter to AED75.7m (US$20.6m), according to reports in Construction Week Online. The company, which is the UAE’s single largest cement producer by installed capacity, blamed damage related to heavy rains in March 2016 as the cause of its fall in revenues. Better control of costs saw the firm’s gross profit margins increase to 36 per cent in 2016, while sales volumes improved in both the UAE and internationally. However, ex...