Cement News tagged under: Middle East
Cemex sees net sales rise to 3% to US$3.436bn in 3Q2029 October 2020, Published under Cement NewsCemex SAB de CV has announced its 3Q20 results with net sales increasing by three per cent on a like -for-like (LfL) basis to US$3.436bn, while EBITDA rose by 15 per cent to US$728m. Net operating earnings, before other expenses, rose by 20 per cent to US$453m on a LfL basis. Net debt plus perpetual notes fell by US$504m versus the previous quarter. Net sales in Mexico rose by 14 per cent on a LfL basis to US$723m. Operating EBITDA rose 16 per cent to US$246m on a LfL basis, versus... |
Eastern Province Cement posts 19% rise in profit28 October 2020, Published under Cement NewsSaudi Arabia’s Eastern Province Cement reported a net profit of SAR43m (US$11.47m) in the 3Q20, rising 19.4 per cent YoY from SAR36m in the year-ago period. However, the company's revenues declined by 8.6 per cent to SAR159m from SAR174m in the 3Q19. During the first nine months of 2020, the company's net profits rose 38.6 per cent YoY to SAR158m from SAR114m in the corresponding period of 2019. Its revenues also advanced 4.9 per cent to SAR539m against SAR514m in the 9M19. |
New US$435m project set for Oman26 October 2020, Published under Cement NewsOman’s Duqm International Cement Projects Co is preparing to launch the country’s biggest integrated cement plant project with an investment of US$435m, according to the Oman News Agency. The new factory, to be located in the Special Economic Zone in Duqm (SEZAD), is expected to have a capacity of 3.5Mta (10,000tpd). It is due to start operations in 2023. The spokesman for the project stated that the new project will meet local market demand and also export to external markets such as ... |
Hail Cement sees 200% increase in profit26 October 2020, Published under Cement NewsSaudi Arabia’s Hail Cement Co has reported a 200.4 per cent rise in profits to SAR22.8m (US$6.08m) for the third quarter of 2020, compared with SAR7.59m in the year-ago period. Revenue also increased 15.2 per cent YoY to SAR71.7m in the 3Q20. During the period from January to September, the company’s profits surged to SAR84.8m, an increase of 200.5 per cent YoY. |
Lucky Cement's Iraqi clinker plant set for December start-up26 October 2020, Published under Cement NewsLucky Cement Ltd of Pakistan has set a target date of 20 December 2020 for the start-up of its 1.2Mta greenfield clinker unit, in Samawah, Iraq. Lucky Cement 's Chairman, Muhammad Yunus Tabba, and CEO, Mohammad Ali Tabba, informed the Pakistan Stock Exchange (PSX) in a notification of the preferred date for the start-up. This was possible due to an opening of Pakistan's airspace, which enabled additional workforce for the construction of the preheater/kiln, refractory and electrical ... |
Yamama Cement sees revenues of SAR58.12m in 3Q2021 October 2020, Published under Cement NewsYamama Cement (YSCC) posted a revenue of SAR218m (US$58.12m) in 3Q20, a YoY growth of 16.6 per cent. Cement volumes grew by 24.9 per cent in 3Q20 compared to 3Q19 at 1.13Mt. Gross profits and operating income increased by 27 per cent YoY and 33.4 per cent YoY respectively, aided by higher volume and the resulting operating leverage. For the nine months, YCC registered a volume growth of 23.9 per cent YoY. Growth was aided by strong momentum in real estate activities in the local... |
Only certified cement bags are authorised for sale in Abu Dhabi21 October 2020, Published under Cement NewsThe Abu Dhabi Department of Economic Development (ADDED) on Tuesday issued a circular which prohibits building material shops from selling any cement that does not have federal or local certifications. Unless bagged cement in Abu Dhabi has the quality marks issued by the Emirates Authority for Standardisation and Metrology and the Abu Dhabi Quality and Conformity Council they can no longer be sold in the emirate. The circular, which will be implemented in coordination with ADDED's stra... |
Yanbu Cement sees a 33% rise in net profit16 October 2020, Published under Cement NewsSaudi Arabia’s Yanbu Cement has seen a 5.4 per cent YoY increase in revenue to SAR240m (US$64m) for the third quarter of 2020, against SAR227.97m in the 3Q19. The company also saw a 33.2 per cent YoY rise in net profit to SAR82.48m from SAR61.94m in the year-ago period. The improvement was attributed to higher revenue and lower expenses. Over the nine-month period ended 30 September, Yanbu recorded a net profit of SAR210.12m, up 20 per cent YoY from SAR174.9m in the 9M19. |
Raysut Cement reports 5% fall in revenue15 October 2020, Published under Cement NewsOman’s Raysut Cement has announced its unaudited results for the 9M20, reporting a five per cent YoY fall in revenue to OMR65.24m (US$169.67m) from OMR62.13m in the year-ago period. The company also saw a OMR10.65m loss after tax for the nine months ending September 2020, compared to an OMR1m profit in the 9M19. |
Qalaa Holdings achieves 105% YoY growth in 2Q2001 October 2020, Published under Cement NewsQalaa Holdings has reported its consolidated financial results for the quarter ended 30 June 2020, with revenues of EGP7.4bn (US$470m), up 105 per cent YoY. " Qalaa’s performance was anchored by a recovering cement market in Sudan and an optimised pricing strategy by Al Takamol, which played a key role in offsetting the impacts of Egypt's underperforming cement market," said Qalaa Holdings' Chairman and Founder, Ahmed Heikal. |