Cement News tagged under: Qassim Cement

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Saudi Arabia: cement sales down 7%

14 November 2016, Published under Cement News

A recent report from Al Rajhi Capital Research stated that total cement sales in Saudi Arabia fell 6.8 per cent YoY to 47Mt in the first 10 months of 2016, from 50.2Mt in the same period last year. Clinker production also saw a decline, falling 1.7 per cent YoY. Total cement sector revenues declines 19 per cent YoY as a result of lower sales volume (which was down 10.5 per cent YoY) and a fall in the average realised price/t for most companies. Aggregate net income saw a significant decline ...

Saudi Arabia: Qassim Cement reports lower-than-expected 3Q16 profits

11 October 2016, Published under Cement News

Saudi Arabia’s Qassim Cement reported a profit of SAR70.4m (US$18.8m) in 3Q16 and an operating profit of S AR78.3m. The results were lower than expected, according to Al Rahji Capital, who had estimated them at SAR86m and SAR91m, respectively. "Earnings declined mainly due to sharp drop in gross margin to 49.3per cent (vs 60.1 per cent in 3Q15) which in turn was due to lower sales volume and average realised price/tonne,” Al Rajhi Capital reported. The fall in profits was attributed to...

Qassim Cement profits fall 17% in 1Q16

11 April 2016, Published under Cement News

Saudi Arabia’s Qassim Cement saw its profits drop 16.8 per cent YoY to SAR135.4m (US$36.1m) from SAR162.7m. The fall in profits has been attributed to an increase in cost of sales which was unable to offset the rise in sales value and volume during the first quarter.

Saudi Arabia: Qassim Cement sees 6% rise in 3Q profit

09 October 2015, Published under Cement News

Saudi-based producer Qassim Cement reported a six per cent rise in third-quarter profit to SAR115m (US$30.7m), versus SAR109m in the same quarter of last year, according to a bourse filling. For the first nine months of this year, net profit reached SAR445m, up four per cent from the SAR429m recorded in the the corresponding period of 2014. The rise in profit is attributed higher sales both in terms of volume and revenue.

Qassim Cement approves dividend, Saudi Arabia

09 March 2015, Published under Cement News

Saudi cement producer Qassim Cement Co (QCC) approved at a general meeting on Sunday a cash dividend payment of SAR270m (US$72m), or SAR 3 per share, for the second half of 2014. The total dividend for 2014 stands at SAR6/share, or SAR540m, as QCC has already paid a dividend of SAR270m for the first half of 2014. The company booked a net profit of SAR563.6m for the 12 months to December 2014, a decrease from SAR585m a year earlier.

Saudi: Qassim’s 2Q14 net profit slips, sales down 10%

16 July 2014, Published under Cement News

Qassim Cement posted a 1.5 per cent decline in net profit for the second quarter of 2014 to SAR161.1m (US$43m). Sales volumes dropped 10 per cent YoY during the three months to the end of June to 1.07Mt on the back of sluggish construction sector activity. Operating profits came in at SAR163.6m. Analysts at Al Rahji Capital have stated that Qassim’s high utilisation rates and its inability to ramp-up capacity have led it to believe that there is “limited upside potential” from current le...

Qassim Cement 1Q14 net profit declines

09 April 2014, Published under Cement News

Qassim Cement Company reported net profits amounting to SAR159m (US$42.4m) in the first quarter of 2014, down 5.59 per cent for the same period of the last year. In a statement issued today, the Saudi-based company said that dividends per share amounted to SAR1.77 compared to SAR1.87 for the same period of the last year.

Qassim Cement first-half net profit rises, Saudi Arabia

11 July 2013, Published under Cement News

Qassim Cement posted a SAR334.6m (US$89.2m) net profit for the first half of 2013, up from SAR307.4m a year ago. The company attributed the increase to a rise in sales coupled with lower expenses, but did not provide any exact figures. Earnings per share (EPS) stood at SAR 3.72, compared with SAR 3.42.

Qassim Cement line resumes production, Saudi Arabia

02 July 2013, Published under Cement News

Saudi Arabia-based Qassim Cement Company (QCC) said that a fire which broke out last Wednesday was caused by a fuel leak from the pumping station. Damage from the blaze led to the temporary suspension of one kiln line. However, the company said it embarked on immediate repair measures and production was scheduled to have resumed yesterday. QCC does not expect the kiln stoppage to have a negative impact on sales.

Adequate fuel supply needed to meet Saudi cement demand

10 June 2013, Published under Cement News

With massive investments being pumped into the infrastructure space, the outlook for the Saudi cement sector looks bright. Cement companies have benefitted largely from cheap raw materials and fuel availability, making them outstandingly profitable. However, there are some concerns on fuel supply, which could lead to cement shortages. Despite buoyant demand, the cement sector is facing difficulty in ensuring smooth supply of fuel from the government. At the same time, the ma...