Cement News tagged under: Najran Cement Company

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Najran Cement reports SAR53.5m profit in 2019

26 February 2020, Published under Cement News

Saudi Arabia’s Najran Cement Co has reported a net profit of SAR53.5m (US$14.27m) in 2019, a significant improvement upon the SAR83.5m net loss in the previous year. Sales also advanced 49.6 per cent YoY to SAR416.4m from SAR278.4m in 2018, on the back of an increase in sales volumes and prices.

Najran Cement has reappointed its chairman

04 September 2019, Published under Cement News

Saudi Arabia's Najran Cement Co has reappointed Mohammed bin Manaa Aballala (non-executive member) as its chairman. Salah bin Yassin Allaf (independent member) was named as deputy chairman, while Abdulsalam Abdullah Aldriabi was reappointed as CEO.

Najran Cement narrows net loss in 2Q19

29 July 2019, Published under Cement News

Saudi Arabia’s Najran Cement has narrowed its net loss to SAR2.6m (US$693,333) in the 2Q19, compared with SAR31.7m of the year-ago period. Sales rose 38 per cent YoY to SAR76.3m from SAR55.3m. The company also reported a decrease in the cost of production per tonne of cement and higher prices.

Najran Cement sees increased 3Q loss

02 November 2018, Published under Cement News

Saudi Arabia's Najran Cement saw its 3Q net loss after zakat and tax widen to SAR-23.7m (-6.32m) from SAR-17.1m in the year-ago period. The company’s 3Q sales fell nine per cent from SAR59.1m in 3Q17 to SAR53.8m in 3Q18.

Najran Cement Co posts lower profits

09 May 2017, Published under Cement News

Najran Cement Company reported a 81.7 per cent YoY decline in its profits during the first quarter of 2017, according to a Saudi bourse filing. Profits reached SAR11.22m (US$2.99m) in 1Q17, compared to SAR61.34m in 1Q16. Net revenues fell 50.4 per cent to SAR111.4m in the period under review, compared to SAR224.4m in 1Q16. The company’s 1Q17 results were weighed down by lower selling prices, and decreased sales volumes due to lower demand and the slowdown in construction activitie...

Saudi Arabian cement sales down 16% in January

15 February 2017, Published under Cement News

Domestic cement deliveries in Saudi Arabia in January 2017 were 15.9 per cent lower than in the same month the previous year, according to statistics released by Yamama Cement. At 4.78Mt, cement sales in the country were significantly below the January 2016 figure of 5.68Mt. Meanwhile, Saudi producers continue to amass clinker stocks, adding another 0.4Mt to their reserves in January. Clinker stocks now amount to 28.5Mt – enough to supply more than six months of Saudi cement demand at ...

Najran Cement profits suffer steep fall

18 April 2016, Published under Cement News

Najran Cement (Saudi Arabia) posted a net profit of SAR61.08m (US$16.29m) in the first quarter of 2016, registering a decline of 33.6 per cent from SAR92m (US$24.53m) in the same period in 2015. The profit slump was due to decreased sales and production in combination with a rise in the cost of imported clinker used in the manufacture of cement, Najran said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday. It added that rising general and administrative expenses despite an ...

Saudi's Najran Cement sells SAR400m through an Islamic bond

15 June 2015, Published under Cement News

Saudi Arabia’s Najran Cement has raised SAR400m (US$106.7m) through an Islamic bond of five years duration, it said in a statement on Sunday. The sukuk was privately placed with investors and was priced at 1.4 per cent over the three-month Saudi interbank offered rate (Saibor), the firm said in a stock market filing. In May, Najran Cement said it would issue a riyal-denominated sukuk which will be used to refinance debt and for general purposes. Saudi Fransi Capital, the investment bank...

Najran launches waste heat recovery operations

01 July 2014, Published under Cement News

Saudi-based producer Najran Cement said launched operations of its waste heat recovery project yesterday. The company successfully completed the performance guarantee tests stated in its contract with Sinoma of China, according to local press reports.

Najran secures finance for waste heat project

21 April 2014, Published under Cement News

Najran Cement has signed a SAR150m Sharia-compliant loan facility with Banque Saudi Fransi, aimed at financing the company’s waste heat recovery project. The loan has a maturity period of five years (April 18, 2014 until December 31, 2019). It will be repaid in six quarterly instalments at SAR25m each, starting from September 30, 2018 until December 31, 2019.