Cement News tagged under: Middle East
Pakistan cement sales decline by up to 25%03 November 2022, Published under Cement NewsCement sales in Pakistan in the first four months of FY22-23 are expected to decline by 21-25 per cent compared to the same period a year earlier, according to the All Pakistan Cement Manufacturers Association. Sales of local cement are forecast to drop by 22 per cent, according to analysts, who attribute the fall to higher-than-expected rainfall, rising construction costs and the ongoing inflationary environment supressing demand growth. In October cement sales are predicted to remain fla... |
Southern Province 9M profit contracts to SAR238m03 November 2022, Published under Cement NewsThe net profit after zakat and tax of Saudi Arabia-based Southern Province Cement Co declined by 28.1 per cent YoY to SAR238m (US$63.5m) in the 9M22 from SAR331m. Revenues fell by 12.3 per cent YoY to SAR887m in the 9M22 period from SAR1.01bn in the 9M21. Third-quarter 2022 financial results In the third quarter of 2022, the company’s net profits after zakat and tax saw a 20.3 per cent improvement to SAR89m when compared with SAR74m in the 3Q21. When compared with the previous quarte... |
Najran Cement reports 50% drop in profit in 9M2202 November 2022, Published under Cement NewsNajran Cement has recorded revenue of SAR375.6m (US$100.2m) in the opening nine months of 2022, down 15 per cent compared to the SAR441.89m seen in the 9M21. Net profit after Zakat and tax declined by 50.26 per cent from SAR129.51m in the 9M21 to SAR64.42m in the same period a year later. Earnings per share in the 9M22 came in at SAR0.38 versus SAR0.76 in the same period a year earlier. In the third quarter of 2022, revenue advanced by 1.43 per cent YoY to SAR127.68m, compared to SAR125.... |
Tabuk Cement posts 21% rise in revenue in 9M2202 November 2022, Published under Cement NewsTabuk Cement has posted a 20.6 per cent YoY increase in revenue in the first nine months of 2022. Revenue over the period has risen from SAR174.22m (US$46.5m) to SAR210.11m. However, net profit after Zakat and tax over the same timeframe has fallen by 80.7 per cent from SAR17.42m in 9M21 to SAR3.36m in the 9M22. According to the company, despite improved sales and higher average selling prices, the loss of profit is due to an increase in the cost of sales, higher general, administrative... |
Hail Cement sees net income tumble 113% in 9M2202 November 2022, Published under Cement NewsHail Cement has posted revenue of SAR268.22m (US$71.5m) in the opening nine months of 2022, up 31.6 per cent compared to the SAR203.88m seen in the 9M21. However, net income fell by 112.5 per cent from SAR47.17m in the 9M21 to a loss of -SAR5.9m in the same period a year later. Earnings per share in the 9M22 came in at -SAR0.06 versus SAR0.48 in the same period a year earlier. According to the company, the loss is being attributed to lower average selling prices and higher cost of sales... |
National Cement Factory to import clinker31 October 2022, Published under Cement NewsNational Cement Factory LLC (NCF), UAE, will import 600,000t of OPC clinker divided into equal monthly quantities of 50,000t (with ±10 per cent margin), starting from 1 December 2022, until the end of November 2023. To meet this requirement, NCF issued an official international tender with a due date of 8 November from vendors. NCF is a subsidiary of Ittihad International Investment LLC, which operates out of the Industrial City of Abu Dhabi. NCF runs a state-of-the-art two-mill gri... |
Arabian Cement revenue up 8% in 3Q2231 October 2022, Published under Cement NewsArabian Cement has recorded an eight per cent increase in revenue to SAR241m (US$64.2m) in the third quarter of 2022, compared to the same period a year earlier. Profit over the same timeframe has advanced by 57 per cent to SAR59m. Results for the opening nine months of 2022 show a six per cent YoY uptick in profit, despite sales declining by six per cent. Profits for the nine-month period came in at SAR146m, versus SAR138m in the 9M21, according to Arab News. The rise in profits is be... |
Yanbu Cement posts 4% rise in profit in 9M2227 October 2022, Published under Cement NewsSaudi Arabia-based Yanbu Cement Co has announced net profit after zakat and tax of SAR156.24m (US$41.6m) in the opening nine months of 2022, up 4.38 per cent on the SAR149.69m seen in the same period a year earlier. Revenue over the same timeframe slipped 0.13 per cent YoY from SAR742.87m to SAR741.9m. In the third quarter of 2022, revenue advanced by 26.14 per cent YoY from SAR207.78m to SAR262.1m. Compared to the 2Q22, revenue was up 10.05 per cent. Net profit after zakat and tax came i... |
Iranian cement market notes 1% growth27 October 2022, Published under Cement NewsIran’s cement consumption saw a 1.2 per cent uptick YoY to 5.79Mt in September 2022 from 5.72Mt, according to the Iranian Cement Association. Cement production reached 5.92Mt, down 1.5 per cent YoY when compared with 6.01Mt in September 2021, while clinker output declined 3.2 per cent to 6.61Mt from 6.83Mt in September 2021. The country’s cement producers exported 0.375Mt of cement and 0.874Mt of clinker in September 2022. When compared with September 2021, cement exports dropped 57.9 per... |
Al Jouf posts 74% fall in profit in 9M2227 October 2022, Published under Cement NewsSaudi Arabia's Al Jouf Cement Company has reported a 35.1 per cent YoY increase in revenue in the third quarter of 2022. Revenue advanced from SAR54.9m in the 3Q21 to SAR74.1m in the same period this year. Compared to the 2Q22 revenue has improved by 49.84 per cent from SAR49.5m. Net profit after Zakat and tax in the 3Q22 came in at SAR5.94m, up 43.5 per cent YoY. According to the company this is due to growth in the quantity and value of sales, along with an increase in prices in Septembe... |