Cement News tagged under: Qassim Cement

RSS feed

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.

Qassim Cement reports 89% fall in net profit

05 November 2018, Published under Cement News

Saudi Arabia's Qassim Cement has seen an 88.9 per cent YoY fall in its net profit during the third quarter of 2018, decreasing to SAR5.68m (US$1.514m) from SAR51.24m. The profit has been attributed to a drop in the volume and value of sales after a declining demand. Revenue in the 3Q18 fell 43 per cent to SAR74.36m from SAR130.74m of the corresponding period a year ago. During the first nine months of 2018, the company's net profit decreased 56 per cent YoY to SAR81.24m from SAR184.59m.

Qassim Cement Q218 sees 65% profit fall

31 July 2018, Published under Cement News

Saudi cement producer Qassim Cement reported a 65.4 per cent fall in net profit to SAR18.4m in the second quarter of 2018, when compared with a net profit of SAR53.2m in 2Q17. Sales declined by 34.8 per cent from SAR135.1m in 2Q17 to SAR88.1m in the April-June 2018 period.

Qassim Cement records fall in net profit for 1Q18

19 April 2018, Published under Cement News

Saudi Arabia’s Qassim Cement Co has announced a 28.7 per cent YoY fall in net profit for the 1Q18, decreasing to SAR57.2m (US$15.25m) from SAR80.2m. Total sales of the company dropped 22.6 per cent to SAR147.9m, compared with SAR191.1m of the year-ago period. Elsewhere, EFG Hermes has forecast that Arabian Cement Co will post a SAR57.6m net profit for the first quarter of 2018. While Eastern Province Cement Co has been predicted to record a SAR32.27m net profit, according to the investment ...

Qassim Cement sees 38% drop in profit

29 January 2018, Published under Cement News

Saudi Arabia’s Qassim reported a 26.5 per cent YoY fall in sales to SAR626m in 2017 from SAR852m. Net profit fell 37.8 per cent from SAR405.1m in 2016 to SAR251.8m one year later.  Qassim Cement runs a single 4.4Mta plant with two kiln lines in Buraydah, central Saudi Arabia. The company had a 7.4 per cent market share in 2016, according to The Global Cement Report, 12th Edition.

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 ...