Cement News tagged under: Qassim Cement

RSS feed

Qassim Cement to establish new cement mill at Buraydah

29 December 2021, Published under Cement News

Qassim Cement, Saudi Arabia, has entered into a preliminary agreement with the Chinese company, CDI, for the engineering, supply and construction of a new cement mill to be installed at the company's Buraydah cement plant. The new mill will have a replacement capacity of 300tph. The agreement with CDI includes the supply of mechanical and electrical equipment, including design and supervision of civil works, installations and commissioning test. The company said in a bourse filing t...

Qassim Cement sees sales down 27% YoY

08 November 2021, Published under Cement News

Saudi Arabia’s Qassim Cement has reported a net profit of SAR60.4m (US$16.11m) in the third quarter of 2021, down 49.7 per cent YoY from SAR110.1m. Sales also decreased 26.5 per cent to SAR170.3m from SAR231.6m in the 3Q20.

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...

Qassim Cement sees 21% rise in net profit

10 August 2020, Published under Cement News

Saudi Arabia’s Qassim Cement saw a net profit of SAR85.5m (US$22.8m) in the second quarter of 2020, up 21.3 per cent YoY compared to SAR70.5m in the year-ago period. Sales also increased 8.3 per cent YoY to SAR167.4m from SAR154.5m.

Saudi Arabia records 10% demand increase in 5M20

25 June 2020, Published under Cement News

Saudi Arabia’s cement sector has reportedly seen a 10 per cent YoY demand growth in the first five months of 2020, according to Al Rajhi Capital. Qassim Cement and Yanbu Cement saw the highest YoY increase of 21 and 18 per cent, respectively, for the combined period of April and May. However, when comparing the first two months of 1Q20 with the first two months of 2Q20, volumes have declined by almost 50 per cent. "We estimate that for the next couple of years, the industry will wit...

Saudi cement sector reports positive 1Q20

17 April 2020, Published under Cement News

Despite the ongoing coronavirus pandemic, the Saudi cement sector has reportedly seen a 33 per cent YoY average increase in cement market volumes during the 1Q20, according to an Al Rajhi Capital report. Qassim Cement saw the highest growth at 53 per cent, followed by Yanbu Cement and Yamama Cement with rises of 43 and 38 per cent, respectively.   However, restrictions imposed by the government have resulted in project delays, which may directly impact cement demand and cause under-uti...

Qassim Cement sees profits surge in 3Q19

28 October 2019, Published under Cement News

Saudi Arabia’s Qassim cement has seen its net profits after zakat and tax advance to SAR90.16m (US$24m) in the third quarter of 2019, from SAR5.68m in the 3Q18. The increase in profits was mainly ddriven by the rise in sales, investment return and an increase in other income. Total revenues jumped by 155.7 per cent to SAR190.17m. In the January-September 2019 period, net profits were up by 166.6 per cent to SAR 216.6m compared to SAR81.23m in the same period in 2018. Revenues advanced by 6...

Qassim Cement sees 2Q profit rise

05 August 2019, Published under Cement News

Saudi cement producer Qassim Cement reported a net profit after zakat and tax of SAR70.5m (US$18.8m), a 383 per cent increase YoY, when net profit reached SAR18.4m, according to Reuters. Second-quarter sales surged from SAR88.1m in the 2Q18 to SAR154.5m in the 2Q19. The rise in sales was driven by an increase in average selling prices.

Qassim Cement announces 2% drop in 1Q19 net profit

23 April 2019, Published under Cement News

Saudi Arabia’s Qassim Cement has announced that its net profit for the 1Q19 has fallen 2.1 per cent YoY to SAR56m (US$14.93m) from SAR57.2m. The company also reported that its sales for the first quarter increased 3.7 per cent to SAR153.4m, compared with SAR147.9m of the year-ago period.

Qassim Cement to export 120,000t of cement to Kuwait

21 March 2019, Published under Cement News

Saudi Arabia’s Qassim Cement Co has signed an agreement with Kuwait-based Al-Arada Building Materials Co to export 120,000t of cement. While no value for the deal has been released, the related financial impact is expected to show later in the year. The deal came into effect on 1 March and will be valid until the end of 2019, according to a bourse statement.