Cement News tagged under: Middle East
Tabuk Cement sees rising profit in 1Q18 May 2020, Published under Cement NewsSaudi-based Tabuk Cement posted a rise in net profit after zakat and tax to SAR28.91m (US$7.7m) in the 1Q20, from SAR3.63m a year ago. Sales in the 1Q20 advanced by 42.9 per cent to SAR75.42m from SAR52.77m in the 1Q19 with volumes rising. Finance, and selling and marketing costs fell while the company saw gains from adjusting cash flows for a financial liability, according to Reuters. |
Southern Province Cement 1Q profit up18 May 2020, Published under Cement NewsSaudi cement producer Southern Province Cement Co reported a net profit after zakat and tax of SAR183m (US$48.8m) for the first quarter of 2020, up 52.5 per cent from SAR120m in the 1Q19. First-quarter 2020 sales increased 33.6 per cent to SAR457m from SAR342m in the year-ago period. Local sales volumes were up 27.5 per cent YoY and export sales advanced 48.6 per cent YoY in the 1Q20. Financial costs fell by 31.1 per cent YoY. |
Egyptian cement demand falls almost 10% in April15 May 2020, Published under Cement NewsThe Egyptian cement industry's sales volumes for April, excluding exports, dropped 9.7 per cent MoM and 13.4 per cent YoY. Moreover, local sales witnessed almost the same level of drop of 9.2 per cent MoM and 12.6 per cent YoY, respectively. The cement demand fell during April and May as construction activity slowed, impacted by the ongoing coronavirus containment measures and Ramadan. Egypt's cement industry has for some time been struggling with a supply glut of more than 40 per cent, wh... |
Gulf Cement records net loss in 1Q2014 May 2020, Published under Cement NewsUAE-based Gulf Cement has posted a net loss of AED28.9m (US$7.87m) in the first quarter of 2020, compared to an AED1.5m profit in the corresponding period of last year. Revenues also declined 32 per cent YoY to AED88.26m from AED130.06m. The company has also reportedly seen an investment loss of AED4.6m in the first three months of the year, compared to an investment income of AED260,207 in the 1Q19. |
The Cement Producers Association of Iraq joins the WCA as affiliate member13 May 2020, Published under Cement NewsThe World Cement Association announced today that it is welcoming the Cement Producers Association of Iraq (CPAI) as an affiliate member of its international network. Affiliate membership is designed for regional or national cement associations and other partner groups, which are not-for-profit organisations working in areas related to the objectives of the WCA. "In these challenging and uncertain times, it's more important than ever that organisations and individuals from across the glob... |
Arabian Cement sees 22% rise in profit11 May 2020, Published under Cement NewsSaudi-based Arabian Cement Co has recorded a 21.6 per cent increase in net profit to SAR45.1m (US$12.03m) for the first quarter of 2020, compared to SAR37.1m in the year-ago period. The company also reported an 8.2 per cent YoY rise in quarterly sales to SAR204.6m from SAR189.1m. |
Cemex makes organisational changes27 March 2020, Published under Cement NewsCemex has announced that Sergio Mauricio Menéndez Medina, current president of Cemex Europe, has been appointed as president of Europe, the Middle East, Africa and Asia. Therefore, Mr Menéndez Medina will oversee the business in the Philippines, Israel, Egypt and the UAE, in addition to his current responsibilities, with effect from 27 March 2020. "I would like to thank our current president of our Asia, Middle East and Africa region, Joaquin Estrada, for his contribution and commitment t... |
The 15th Cemtech MEA opens in Dubai18 February 2020, Published under Cement NewsThe 15th Cemtech MEA conference and exhibition has opened at the Grand Hyatt Dubai, UAE. Thomas Armstrong, managing editor of ICR, started proceedings by welcoming delegates to Dubai and also provided an update on the cement markets of the GCC. The GCC markets are currently facing the issue of large-scale oversupply, with the region hitting a peak demand level in 2015. Total capacity increased to 157Mta in 2018 from 110Mta in 2010, while consumption is currently at around 73Mta. However, ... |
Iran-US conflict may impact cement industry in Pakistan06 January 2020, Published under Cement NewsAccording to a report from a local research house, following the alleged assassination of Iranian Commander Qassem Soleimani by a US drone attack, security concerns in the Middle East have escalated significantly. Iran and its allies have vowed to retaliate and there is a high possibility of a series of attacks from both sides in the coming months. Nonetheless, analysts think the likelihood of an all-out war between Iran and the US with its Middle Eastern allies is thin, because it will li... |
Cemtech Middle East & Africa off to successful start19 February 2019, Published under Cement NewsOver 200 delegates from the global cement industry have come together for Cemtech Middle East & Africa 2019, which is being held at the Grand Hyatt Dubai, UAE, between 17-20 February. International Cement Review's Managing Director, Thomas Armstrong, inaugurated the conference by welcoming delegates to Dubai. Mr Armstrong considered how oversupply is one of the largest issues that dominates the cement sector in the Middle East and African region, with a 55-60 per cent utilisation rate in 20... |