Cement News tagged under: Hail Cement
Saudi sales rise in June 201912 July 2019, Published under Cement NewsCement 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 increase08 May 2019, Published under Cement NewsSaudi 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 revenue06 February 2019, Published under Cement NewsSaudi 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 production26 July 2018, Published under Cement NewsSaudi 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 1Q1830 April 2018, Published under Cement NewsSaudi Arabia’s Hail Cement recorded a 48.9 per cent YoY fall in net profit for the 1Q18, decreasing to SAR4.23m (US$1.13m) from SAR8.28m. The company attributed the results to a decline in prices, drop in demand and strong competition, according to a statement to the Saudi Stock Exchange. Despite this, the profit results were a 6.9 per cent QoQ increase. Additionally, sales rose 9.7 per cent to SAR48.73m, compared with SAR44.4m of the year-ago period. |
Hail Cement sees drop in 2017 profit30 January 2018, Published under Cement NewsSaudi Arabia’s Hail Cement reported a 84.4 per cent YoY fall in its net profit to SAR15.5m from SAR99.7m. Total sales decreased 39.5 per cent from SAR272.1m in 2016 to SAR164.5m in 2017. The company attributed its decrease in net profit to reduced demand, tough competition and falling prices. |
Saudi Arabian companies report profit falls in 3Q1731 October 2017, Published under Cement NewsSaudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 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... |
Hail Cement sees 90% profit slide in 2Q1724 July 2017, Published under Cement NewsSaudi Arabia's Hail Cement Co announced that its net profits decreased by 90.1 per cent YoY to SAR2.66m (US$709,203) in 2Q17 from SAR26.8m in 2Q16. Sales fell 51.2 per cent to SAR32.16m in the second quarter, from SAR75m in 2Q16 as demand in the kingdom fell, competition increased and prices declined. In the first six months, profits fell 81.5 per cent to SAR10.9m from SAR59.13m in 1H16 while sales soften 53.5 per cent to SAR76.6m in 1H17, compared with SAR164.55m. |
Hail Cement 2Q15 net earnings down 28%14 July 2015, Published under Cement NewsSaudi-based Hail Cement reported net earnings of SAR28.6m during the second quarter of 2015, down 38 per cent compared with SAR46m in the comparative period of last year. Net earnings for the first half of 2015 also slipped 18.44 per cent YoY from SAR81m to SAR66m. The profit decline was attributed by the company to an increase in direct costs due to a decrease in production volume and an increase in maintenance costs because of shutdown. |
Hail Cement signs loan agreement, Saudi Arabia14 December 2012, Published under Cement NewsSaudi Arabian cement company Hail Cement announced that it has signed a loan agreement with the Saudi Industrial Development Fund on 12 December 2012. The loan amount is SAR300m (US$80m) repayable in 20 half-yearly unequal installments as scheduled and approved against mortgage of all fixed assets. The period of the loan is 12 years, with payment starting 2015. The company is using the loan to fund the development of a new cement factory in the city of Hail, according to a statement ma... |