Cement News tagged under: Northern Region Cement Co

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Northern Region Cement sees 27% rise in net profit

06 August 2021, Published under Cement News

Saudi Arabia’s Northern Region Cement has seen its net profit rise 26.9 per cent YoY to SAR52.9m (US$14.11m) in the January-July period of 2021, compared with SAR41.65m in the first half of the previous year. However, sales decreased 1.6 per cent YoY to SAR307.19m from SAR312.2m in the 1H20.

Saudi Arabian cement companies see combined profits rise 39%

12 November 2020, Published under Cement News

The combined profits of 14 Tadawul-listed Saudi cement companies grew by 39.3 per cent YoY to SAR840.87m during the 3Q20, compared with SAR603.54m in the same period of 2019, according to Mubasher. A total of 13 cement firms achieved growth in quarterly profits, while Northern Region Cement saw profits fall. The net profit of Southern Province Cement Co was the highest in the third quarter, rising 66.7 per cent YoY to SAR150m. Qassim Cement saw a 22.1 per cent advance in profit to SAR1...

Northern Region Cement sees 78% rise in profit

15 June 2020, Published under Cement News

Saudi 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.

Northern Region Cement posts 75% profit fall in 2018

21 March 2019, Published under Cement News

Saudi cement producer Northern Region Cement saw a 75 per cent drop in its net profits to SAR13.09m (US$3.5m) in 2018 from SAR52.95m in the previous year, according to data published on the Saudi Stock Exchange. The company attributed the fall to strong competition in Saudi Arabia and Jordan, which put downward pressure on prices. In the fourth quarter of 2018, profits declined to SAR13.33m from SAR15.41m in the 4Q17, according to Mubasher. In the 3Q18 the company reported a 60.4 per cen...

Al Rashed signs agreement to market and distribute NRCC's white cement

23 October 2018, Published under Cement News

Saudi Arabia's Al Rashed Cement has signed an agreement with Northern Region Cement Co (NRCC) to facilitate marketing and distribution of NRCC’s white cement. The value of the one-year contract will be determined based on market price, according to a statement to the stock exchange. NRCC reported a loss of SAR6.69m (US$1.78m) in 2Q18, compared with a profit of SAR8.26m for the year-ago period. In the 1H18, the company recorded a SAR5.23m net loss.

Saudi cement production falls 7% in April

11 May 2018, Published under Cement News

The total production of Saudi cement companies fell 7.4 per cent YoY in April 2018, declining to 4.2Mt from 4.54Mt. Furthermore, sales in the country dropped 9.5 per cent YoY in the same period, according to a report released by Yamama Cement Co. However, cement inventories rose 4.6 per cent to 1.19Mt in April. Elsewhere, Saudi Cement Co reported a 7.9 per cent increase in sales volume to 519,000t for the April period. Northern Region Cement Co announced a seven per cent YoY decrease in sa...

Wärtsillä extendes NRCC power plant manenagement agreement

31 January 2018, Published under Cement News

Wärtsilä and Northern Region Cement Company (NRCC) of Sauid Arabia signing a new three-year asset management agreement for NRCC's power plant in Turaif, Saudi Arabia. Wärtsilä will continue to be responsible for the operation and maintenance of the power plant and to ensure the reliability and availability of its operations. This agreement, signed in October 2017, is an extension of Wärtsilä’s previous service agreements for NRCC's power plant signed in 2008. The 62 MW power plant is equip...

Northern Region Cement profit drops 61.6%

04 May 2017, Published under Cement News

Northern Region Cement Co reported a 61.6 per cent YoY decline in profits for the first quarter of this year, the Saudi-based cement producer said in a bourse filing on Wednesday. Profits reached SAR16.48m (US$4.4m) in 1Q17, down from SAR42.9m in the comparative period of the previous year. The company attributed the drop in profit to lower volumes and selling prices, as well as higher competition. Total sales contracted by 44.92 per cent to SAR127.3m in the quarter under review compa...

Saudi Arabia: Northern Region Cement Co appoints new board top

17 March 2017, Published under Cement News

Saudi Arabia’s Northern Region Cement Co has appointed Sulaiman bin Salim Al-Harbi as the Board's chairman. The board also assigned the role of the deputy chairman to Raed Ibrahaim Al Mudieheem, according to a bourse filing on Wednesday. The company said that the board's new session will start on 16 March and last for three years, ending on 15 March 2020.

Saudi Arabia: Northern Cement profits down 57% in 4Q16

19 January 2017, Published under Cement News

Northern Region Cement Co reported a 57.3% YoY decline in profits in the fourth quarter of 2016, according to the company's filing to the Saudi Stock Exchange (Tadawul). Profits reached SAR16.91m (US$4.51m), down from SAR39.62m in 4Q15 and -43.8 per cent when compared with the 3Q16. The decline is attributed to lower sales due to intense competition, lower selling prices and reduces volumes. Weaker demand and lower prices have also affected annual results as Northern Cement saw it...