Cement News tagged under: Najran Cement

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Najran Cement signs financing agreement

28 April 2020, Published under Cement News

Saudi Arabia’s Najran Cement has signed a financing agreement with Bank Al-Jazira. The credit agreement will see a total of SAR355M (US$94.67m) paid semi-annually over five years. The first four years will see an annual payment of SAR51m and the remainder issued in the final year.

Najran Cement Co reports positive 1Q20 results

24 April 2020, Published under Cement News

Saudi Arabia’s Najran Cement Co has reported a 557.4 per cent surge in net profit to SAR40.1m (US$10.69m) in the first quarter of 2020, compared to SAR6.1m in the 1Q19. Sales advanced to SAR156.4m from SAR106.5m, on the back of a lower cost of sales and financing.

Najran Cement resumes production at 6500tpd line

25 June 2019, Published under Cement News

Saudi Arabia’s Najran Cement has temporarily suspended operations of its second production line. However, it will resume production at its 6500tpd third line from 1 July due to a decrease in its clinker inventory, according to Reuters. The change in production lines is also expected to increase operational efficiency and decrease fixed costs in the FY19 by SAR5.7m (US$1.52m).

Najran Cement losses surge to 651% in 2Q18

31 July 2018, Published under Cement News

Saudi Arabia’s Najran Cement’s losses reached SAR-31.73m (US$-8.46m) in the second quarter of 2018, representing an increase of SAR4.2m when compared with the 2Q17, according to a statement to the Saudi Stock Exchange (Tadawul). Quarter-on-quarter the company’s losses increased 212 from SAR18.18m. Najran has attributed the slide to a drop in average selling prices, combined with a fall in sales volumes as demand has fallen and competition increased. Higher production and finance costs...

Najran Cement announces financial impact of line closure

15 February 2018, Published under Cement News

Saudi Arabia’s Najran Cement has halted production at a 6500tpd clinker line and resumed production at its 3000tpd second line. The second line was temporarily shut down to reduce excess capacity within the market.  The company announced that the financial impact of these developments is estimated to reach SAR11.3m (US$3.01m) on FY18.

Saudi Arabian companies report profit falls in 3Q17

31 October 2017, Published under Cement News

Saudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 173,433) from SAR19.3m in the 3Q16, according to a company statement on the Saudi stock exchange. Profits retreated 75.5 per cent QoQ. Revenues of the Saudi cement producer decreased by 37 per cent from SAR58.2m in 3Q16 to SAR36.9m in 3Q17. Hail Cement’s 9M17 profits decreased 85.2 per cent to SAR11.6m, compared t...

Saudi Arabia: Najran shuts down Line 2

07 March 2017, Published under Cement News

Saudi Arabia’s Najran Cement Co has suspended production at a 3000tpd clinker line. The temporary shutdown of company’s Line 2 is due to the current conditions in the market. The decline in cement demand has led to an increase in inventories.

Saudi Arabia: Najran Cement receives export licence

17 February 2017, Published under Cement News

Najran Cement obtained an export licence from the Saudi Ministry of Commerce and Investment. The licence was received on 15 February 2017 and is valid for one year, according to the company’s statement to the Tadawul, the Saudi stock exchange.

Najran 4Q16 profit falls 73%

20 January 2017, Published under Cement News

Najran Cement reported a fall in profits of 72.55 per cent to SAR14.76m (US$3.93m) in 4Q16 from SAR53.73m in 4Q15. The company attributed the lower profit to reduced sales volumes due to slowing construction activity and an increase in energy prices. Najran Cement's full-year profits reached SAR124.81m, down 51.2 per cent from SAR255.62m reported in 2015.

Saudi Arabia: low demand sees Najran Cement 3Q16 profits halved

18 October 2016, Published under Cement News

Lower sales volumes due to a slowdown in construction activity have seen the net profit of Saudi Arabian-based Najran Cement halve YoY from SAR32.07m (US$8.55m) in 3Q15 to SAR15.36m in 3Q16. The profit fall came despite lower selling and distribution expenses, Zakat (tax) as well as higher other revenues. As for the nine-month period ended 30 September 2016, the Saudi cement producer reported a net profit of SAR110m, down 45.5 per cent from SAR201.89m in the same period in 2015.