Cement News tagged under: Middle East
Oman Cement Co sees 27% fall in profit25 June 2020, Published under Cement NewsOman Cement Co has posted a 26.7 per cent fall in profit after tax to OMR1.1m (US$2.86m) for the first quarter of 2020, compared to OMR1.5m in the 1Q19. The company’s total sales saw a modest 1.5 per cent YoY decline to OMR13.6m from OMR13.4m. |
Misr Insurance reduces Misr Cement-Qena stake24 June 2020, Published under Cement NewsMisr Insurance Co has lowered its stake in Misr Cement-Qena from 9.3 to 4.68 per cent, Misr Asset Management said in a statement to the Egyptian Exchange on 23 June. The insurance company sold 3.33m shares for EGP20.74m (US$1.28m) at an average price of EGP6.23/share. |
Northern Region Cement sees 78% rise in profit15 June 2020, Published under Cement NewsSaudi Arabia’s Northern Region Cement Co has reported a 78 per cent increase in net profit to SAR27.6m (US$7.36m) in the first quarter of 2020, compared to SAR15.5m in the year-ago period. Revenue surged 44 per cent YoY to SAR180.1m from SAR124.3m in the 1Q19. The increase in profits has been attributed to higher sales volumes and lower financing charges. |
Raysut Cement posts loss in 1Q2011 June 2020, Published under Cement NewsOman’s Raysut Cement has posted an OMR4m (US$10.4m) loss after tax in the first quarter of 2020, compared to an OMR242,951 profit in the corresponding period of last year, according to Reuters. However, revenue advanced 11.3 per cent YoY to OMR25.6m from OMR23m. |
Qena Cement's 1Q20 cement sales surge to EGP47m10 June 2020, Published under Cement NewsQena Cement reports net profits surged to EGP47m (US$2.9m) in the 1Q20, compared to EGP12m for the same period of the preceding year. Standalone net sales revenues grew by 5.5 per cent in the quarter, while net debt shrank by 20 per cent, falling from EGP607m to EGP485m, compared to 1Q19. The group has successfully increased its consolidated net sales revenues by 2.6 per cent, marking EGP816m in the 1Q20, versus EGP795m for the same period of the preceding year. Net sales revenues climbed t... |
Sharjah Cement reports net loss in 1Q2009 June 2020, Published under Cement NewsUAE-based Sharjah Cement has reported a net loss of AED9.3m (US$2.5m) in the first quarter of 2020, compared to an AED802,000 net profit in the corresponding period of last year. The company’s consolidated revenue also fell 16.3 per cent YoY to AED128.16m from AED153.1m in the 1Q19. |
Ras Al Khaimah slips into the red in 1Q01 June 2020, Published under Cement NewsIn its unaudited first-quarter results, Ras Al Khaimah Cement Co reported a 26 per cent drop in sales to AED36.838m (US$10.031m) in the first quarter of 2020 ended 31 March when compared with the equivalent period of the previous year, when sales reached AED49.774m. The company posted a gross loss of AED3.808m, against a gross profit of AED4.241m in the 1Q19 while net loss reached AED8.01m. In the 1Q19 Ras Al Khaimah Cement achieved a net profit of AED2.162m. |
Al Sahawa Cement is set to invite tenders for 5000tpd plant29 May 2020, Published under Cement NewsAl Sahawa Cement Co (ASCC), a subsidiary of Oman Cement Co, is reportedly planning to invite bids for two key tenders linked to the construction of its new US$212m integrated cement plant in Duqm by mid-July, according to TradeArabia. The tender for the 5000tpd clinker production unit is expected to be awarded on an EPC basis, while work on the clinker facility is expected to be pursued in parallel with the construction of a cement grinding unit. Commissioning is planned for March 2022. ... |
Al Jouf Cement sees 4% rise in revenue for 1Q2026 May 2020, Published under Cement NewsSaudi Arabia’s Al Jouf Cement has seen a 3.5 per cent YoY increase in revenue to SAR58.8m (US$15.68m) in the first quarter of 2020, compared to SAR56.85m in the year-ago period. Net profit has also surged to SAR15.21m from SAR1.49m in the 1Q19. |
Encouraging developments for Pakistan's cement industry19 May 2020, Published under Cement NewsPakistan's cement industry saw several encouraging development last week, including the news about the implementation of Diamer Basha Dam project, reduction of interest rates by the central bank, sufficient allocation of a development fund in the upcoming budget with a sorry note of the fall in cement production during 20 March due to the direct impact of COVID-19. As a result, the stock market turned bullish on last Tuesday on the back of a sharp rally in the cement and steel stocks. In a... |