Cement News tagged under: Eastern Province Cement Co
Eastern Province Cement FY profit sees 26% drop21 March 2023, Published under Cement NewsFull-year sales of Saudi Arabia’s Eastern Province Cement advanced 3.4 per cent to SAR784m (US$209.1m) in 2022 to SAR758m in the year-ago period. Net profit after zakat and tax was down 25.9 per cent to SAR143m in 2022 from SAR193m a year ago as financing, precast sales, general and administrative, and general and selling expenses, and other expenses all increased. Meanwhile, Eastern Province Cement has invited bids from specialist companies for the establishment of a new clinker prod... |
Eastern Province sees profit surge in 201920 March 2020, Published under Cement NewsSaudi cement producer Eastern Province Cement Co (EPCC) has posted a 158.7 per cent jump in profits to SAR181m (US$48.3m) in 2019, up from SAR70m in 2018. Revenues increased 28.8 per cent to SAR729m last year. The increase in net profits after zakat and tax has been attributed to higher sales volumes and prices, investment income and a lower zakat provision and a refund on a provision for credit losses. There was also a reduction in losses on disposal of property, plant and equipment, repo... |
Eastern Province Cement records 300% increase in net profit06 November 2019, Published under Cement NewsSaudi Arabia’s Eastern Province Cement Co has reported a 300 per cent increase in net profit to SAR36m (US$9.6m) in the 3Q19, compared with SAR9m in the year-ago period. Sales also advanced 42.6 per cent YoY to SAR174m from SAR122m. During the first nine months of 2019, net profit surged 159.1 per cent YoY to SAR114m from SAR114m in the 9M18. The increase in profit has been attributed to higher cement sales from strong local demand, alongside lower selling and marketing expenses. |
Eastern Cement records 46% fall in 2Q18 profit07 August 2018, Published under Cement NewsSaudi Arabia’s Eastern Province Cement Co has recorded a 45.7 per cent YoY decline in net profit for the 2Q18, falling to SAR19m (US$5.06m) from SAR35m. Sales dropped 4.4 per cent to SAR152m from SAR159m. In the 1H18 the company’s profit decreased 59.3 per cent to SAR35m, while sales dipped 19.9 per cent to SAR290m. Eastern Cement attributed the fall in 1H18 profit to a decline in the value and volume of precast concrete sales. |
Qassim Cement records fall in net profit for 1Q1819 April 2018, Published under Cement NewsSaudi Arabia’s Qassim Cement Co has announced a 28.7 per cent YoY fall in net profit for the 1Q18, decreasing to SAR57.2m (US$15.25m) from SAR80.2m. Total sales of the company dropped 22.6 per cent to SAR147.9m, compared with SAR191.1m of the year-ago period. Elsewhere, EFG Hermes has forecast that Arabian Cement Co will post a SAR57.6m net profit for the first quarter of 2018. While Eastern Province Cement Co has been predicted to record a SAR32.27m net profit, according to the investment ... |
Eastern Province Cement 2Q net profit slides03 August 2017, Published under Cement NewsSaudi-based Eastern Province Cement Co (EPCC) said its net profits slid 25.5 per cent YoY in the second quarter of 2017 due to lower volumes and value of cement sales due to a drop in domestic demand. Net profits stood at SAR35m in 2Q17, compared to SAR47m in 2Q16, according to a statement to the Saudi Stock Exchange. Quarter-on-quarter, net profits retracted 30 per cent. Sales tumbled 23.5 per cent to SAR159m in 2Q17, from SAR208m in the same period in the year before. In the first half... |
Saudi Arabia: Eastern Province and Tabuk Cement see fall in 3Q16 profits21 October 2016, Published under Cement NewsEastern Province Cement Co and Tabuk Cement are the latest Saudi cement producers to post a fall in third-quarter profits amid lower sales and higher production costs. Eastern Province Cement Co posted a 35.8 per cent YoY decrease in net profits from SAR67m in 3Q15 to SAR43m in 3Q16. In the first nine months of 2016 the cement producer reported net profits of SAR180m, representing a 26.2 per cent fall when compared with the SAR244m net profit in 9M15. The downward trend in profits has bee... |
Eastern Province Cement names new chairman, deputy chairman17 February 2015, Published under Cement NewsSaudi-based producer Eastern Province Cement Co (EPC) approved at a meeting on Sunday the appointment of Turki bin Fahd as board chairman. The company also named Abdul Mohsen al-Ruwaishid as deputy board chairman. In a separate statement on Monday, the cement manufacturer announced a 21 per cent YoY increase in net profit to SAR374m (US$99.7m) last year attributed to higher ready-mix concrete sales. |
ABB upgrades Eastern Province Cement Co's process control system, Saudi Arabia28 March 2014, Published under Cement NewsABB has recently completed an extensive upgrade of the Extended Automation System 800xA to the latest standards at Eastern Province Cement Co’s (EPCC) three production lines at its Al Khursaniya works in Saudi Arabia. With outdated hardware and software potentially impacting the plant’s reliability and to avoid unexpected shutdowns and improve functionality of the cement production lines, EPCC decided to optimise its process control system. The scope of supply included the evolution of Ext... |
Eastern Province Cement Co net profit rises 4.8% YoY22 April 2013, Published under Cement NewsEastern Province Cement Co has announced a 4.8 per cent YoY rise in net profit to SAR109m (US$29m) in 1Q13 compared to SAR104m in the same period of last year. The increase is attributed to the improved results of an associated company and increases in other incomes. Compared to the previous quarter, net profit rose 2.8 per cent from SAR106m in 4Q12 attributed to increases sales and a decrease in general administrate expenses. |