Cement News tagged under: Kuwait

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Kuwait Portland Cement chairman buys 1.46m shares

12 September 2017, Published under Cement News

The chairman of Kuwait Portland Cement, Khaled Al Sager, has purchased 1.46m of the company’s shares on Wednesday, 6 September. The total value of the purchased stake stood at KWD1.42m (US$4.71m) or 970 fils per share. Portland Cement’s capital stands at KWD10.02m, which is distributed on 100.2m shares. Kuwait Portland Cement Company is the third and final player on the Kuwaiti cement market with a 1Mta integrated plant in Shuwaikh.

Kuwait Cement sees decline in quarterly profit

10 August 2017, Published under Cement News

Kuwait Cement reported a decline of 37.1 per cent in profits to KWD4.38m (US$14.48m) in the second quarter this year compared to KWD6.96m (US$23.01m) in the same quarter a year ago. In the first half of 2017, the company posted a fall of 17.9 per cent in profits to KWD9.98m compared to KWD12.16m in 1H16, according to a bourse filing issued on Wednesday. The decrease in profits is attributed to a higher finance cost to the consolidated income statements by KWD154,430, as well as a drop...

Kuwait Cement FY16 profit up to KWD19.5m

17 March 2017, Published under Cement News

Kuwait Cement reported a modest increase of its full-year profit from KWD19.3m (US$63.2m) in FY15 to KWD19.5m in FY16. The company’s total operating revenue advanced from KWD92.2m in FY15 to KWD98.6m in FY16.

Kuwait: Gulf Cement Co to produce oil well cement

20 February 2017, Published under Cement News

Gulf Cement Co was granted a permit for the production of oil well cement from the American Petroleum Institute. Gulf Cement reported a 27.1 per cent fall in profits to KWD4.141m (US$13.56m) in FY16 from KWD5.683m in the previous fiscal year.

Kuwait: Siwertell receives third order from Acico Construction

10 February 2017, Published under Cement News

Siwertell, part of Cargotec, has signed a contract with Kuwait-based Acico Construction for its third road-mobile cement unloader. Similar to its last delivery in 2015, the next-generation, road-mobile unloader will be a trailer-based, diesel-powered Siwertell 10 000 S unit. It will be fitted with dust filters and a double bellows system and will have a rated capacity of 300tph. Acico also operates a Siwertell 5 000 S unit, which was delivered in 2014. The new unit will be built at Siw...

Kuwait Cement to sell stake in Kuwait Food Company

08 February 2017, Published under Cement News

According to reports in ArabianBusiness.com, Kuwait Cement will sell its stake in Kuwait Food Company (Americana) to Gulf-based investment group Adeptio. The US$4.42m deal follows Adeptio’s purchase of a majority stake in Americana, which it acquired in October for US$2.35bn.

Kuwait Cement 3Q profits up 19%

10 November 2016, Published under Cement News

Kuwait Cement posted a 19 per cent YoY growth in profits for the 3Q16. Earnings increased to KWD3m (US$9.9m) in 3Q16 compared to KWD2.55m in 3Q15. However, during the nine month period profits fell seven per cent to KWD15.2m from KWD16.3m in the same period last year. This decline in 9M profit was attributed to a decreased in gross profits by KWD1.45m as well as a decline in investment profits worth approximately KWD561,968.

Kuwait Portland Cement Co earnings down 10% YoY

17 July 2015, Published under Cement News

Kuwait Portland Cement Company earned KWD5.2m in the first half of this year (US$17.2m), or 55.1 fils per share, compared to KWD5.8m (61.12 fils per share) in the comparative period of 2014. The company said in a statement, posted on the Kuwait Stock Exchange website, that its total assets reached KWD82.34m, liabilities KWD17.48m in the 1H15, compared to KWD15.15m in 1H14.

Siwertell receives repeat Kuwait order

21 April 2015, Published under Cement News

Siwertell, part of Cargotec, will supply a second road-mobile unloader to Acico Construction Co in Kuwait. The company took delivery of its first mobile unit from Siwertell in July 2014.   The trailer-based, diesel-powered, Siwertell 10000 S road mobile unloader will be used at Shuaiba Port in Kuwait to discharge cement at 300tph. It will be equipped with a double bellows system to allow continuous unloading operations, and a dust filter to minimise dust creation. Scheduled for delivery by ...

Kuwait: Hilal Cement books full-year net loss

26 February 2015, Published under Cement News

Kuwaiti cement producer Hilal Cement booked a net loss of KWD374,000 (US$1.3m) in 2014, versus a net profit of KWD518,500 a year earlier, the company said in a bourse statement. The loss per share stood at 5 fils, compared to earnings per share of 7 fils. For the final quarter of 2014, Hilal Cement registered a net loss of KWD92,000, versus a net profit of KWD241,600 in 2013. The company attributed the lower performance to higher sales costs and administrative expenses, coupled with a dec...