Cement News tagged under: Hail Cement

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Hail Cement posts 1Q22 sales losses of SAR6.9m

19 May 2022, Published under Cement News

Saudi Arabia's Hail Cement Co has reported losses of SAR6.9m (US$1.8m) in the 1Q22 after it witnessed a drop in sales. The cement producer had made profits of SAR25.9m in the same period last year, but a 16 per cent decline in sales weighed on the current year’s results, a bourse filing showed. The company's revenue went down from SAR82m to SAR69m YoY. Hail Cement also attributed the results to an increase in expenses, which led to operating losses of SAR7.36m during the quarter.

Hail Cement reports profit rise in 2019

04 February 2020, Published under Cement News

Saudi cement producer Hail Cement has posted a net profit after zakat and tax of SAR59.7m (US$15.9m) in 2019 following a loss of SAR25m in 2018. The company increased its sales from SAR196m in 2018 to SAR274.4m in 2019.

Hail Cement records 52% revenue increase in the 3Q19

24 October 2019, Published under Cement News

Saudi Arabia’s Hail Cement has recorded a SAR7.6m (US$1.95m) net profit in the 3Q19, compared with a loss of SAR18.3m in the year-ago period. Revenue also improved 51.7 per cent YoY to SAR62.2m from SAR41m. In the first nine months of 2019, revenue advanced 40.6 per cent to SAR184.2m from SAR130.9m. Net profit finished at SAR28.22m against a loss of SAR32.1m in the 9M18.

Saudi sales rise in June 2019

12 July 2019, Published under Cement News

Cement sales in Saudi Arabia increased 20 per cent YoY to 2.55Mt in June 2019, compared to 2.13Mt in the same month last year, according to data compiled by Yamama Cement Co. Only four cement producers out of 17 in total reported lower sales for the month. Tabuk Cement saw the largest decline (-27.9 per cent to 57,000t), followed by Hail Cement (-21 per cent to 64,000t) and Yamama Cement (-13.4 per cent to 219,000t). However, 12 manufacturers reported an increase in sales. This was led by...

Hail Cement sees 41% YoY 1Q revenue increase

08 May 2019, Published under Cement News

Saudi Arabia-based Hail Cement reported a 41 per cent YoY rise in revenues to SAR68.6m (US$18.3m) in the first quarter of 2019. “The main reason for the increase in net income in the current quarter compared to the same quarter last year is due to more sales quantity and better selling price,” the firm said in its filing to the Tadawul, the Saudi stock exchange. The results come only months after a Saudi cement sector report by Al Rajhi Capital that said that cement demand in the Middle ...

Hail Cement sees a 19% increase in revenue

06 February 2019, Published under Cement News

Saudi Arabia’s Hail Cement made a net loss of SAR23.55m (US$6.27m) in 2018, compared with a SAR15.54m profit in 2017. However, revenue increased 19.1 per cent YoY to SAR195.98m. In the final quarter of 2018, the company recorded a 23.8 per cent YoY decline in profit to SAR8.83m from SAR11.59m.

Hail Cement and Tabuk Cement increase production

26 July 2018, Published under Cement News

Saudi cement producers are beginning to raise production to contribute to the US$500 Neom megaproject, according to Mubasher. Tabuk Cement and Hail Cement lead the production increases in the 1H18, showing a 20 and 55 per cent YoY rise, respectively. "Hail and Tabuk are beating volume trends as some contracts were awarded in the Neom area earlier this year," Anoop Fernandes, an analyst at SICO, reported to Bloomberg. While demand in the country is currently low on-year, forecasts predict ...

Hail Cement reports 49% fall in net profit for 1Q18

30 April 2018, Published under Cement News

Saudi Arabia’s Hail Cement recorded a 48.9 per cent YoY fall in net profit for the 1Q18, decreasing to SAR4.23m (US$1.13m) from SAR8.28m. The company attributed the results to a decline in prices, drop in demand and strong competition, according to a statement to the Saudi Stock Exchange. Despite this, the profit results were a 6.9 per cent QoQ increase. Additionally, sales rose 9.7 per cent to SAR48.73m, compared with SAR44.4m of the year-ago period.

Hail Cement sees drop in 2017 profit

30 January 2018, Published under Cement News

Saudi Arabia’s Hail Cement reported a 84.4 per cent YoY fall in its net profit to SAR15.5m from SAR99.7m. Total sales decreased 39.5 per cent from SAR272.1m in 2016 to SAR164.5m in 2017. The company attributed its decrease in net profit to reduced demand, tough competition and falling prices.

Saudi Arabian companies report profit falls in 3Q17

31 October 2017, Published under Cement News

Saudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 173,433) from SAR19.3m in the 3Q16, according to a company statement on the Saudi stock exchange. Profits retreated 75.5 per cent QoQ. Revenues of the Saudi cement producer decreased by 37 per cent from SAR58.2m in 3Q16 to SAR36.9m in 3Q17. Hail Cement’s 9M17 profits decreased 85.2 per cent to SAR11.6m, compared t...