Cement News tagged under: Qatar National Cement

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Qatar National Cement sees profit decline 51%

28 January 2020, Published under Cement News

Qatar National Cement has recorded a 50.5 per cent fall in net profit to QAR172.16m (US$47.29m) for 2019, compared with QAR347.83m in the previous year. The company’s total cement production declined to 2.2Mt against 2.9Mt in 2018. In 2019 sales of all types of cement dipped to 2.6Mt from 2.9Mt. The company has also announced that it aims to diversify its cement production to meet local market demands and explore the possibility of exports.

Qatar National Cement signs deal to expand export operations

12 March 2019, Published under Cement News

Qatar National Cement (QNC) has signed a memorandum of understanding with Qatar Primary Materials, which will allow the company to expand its cement export operations. The deal will see the cement company use Qatar Primary Materials’ facilities, silos and platforms to export cement and clinker, according to a statement posted to the country’s stock exchange. 

Qatar Cement records 6% profit decline in 2Q18

24 July 2018, Published under Cement News

Qatar National Cement recorded a six per cent YoY fall in net profit to QAR78.26m (US$21.5m) in the 2Q18, compared with QAR83.25m of the year-ago period. In the 1H18 period the company’s profit remained mostly flat YoY, reaching QAR168.52m from QAR168.09m. However, revenue showed a significant decline of 21.9 per cent to QAR434.55m from QAR556.75m.

Qatar Cement signs US$100m deal with Saudi investors

02 August 2016, Published under Cement News

The Qatar National Cement Company has agreed a US$100m financing deal with Samba Financial Group of Saudi Arabia, the Peninsula newspaper reports. The investment deal will be used to part-fund Qatar Cement’s fifth integrated plant, construction of which is already underway at a total cost of QAR950m (US$260m). The new plant will have a clinker capacity of 17,000tpd and grinding capacity of 20,000tpd. Qatar Cement also released its earnings statement for the first half of 2016. This ove...

QNCC full-year profit up 10%

22 January 2016, Published under Cement News

Qatar National Cement Company (QNCC) reported a 10.28 per cent rise in net profit to QAR463.5m (US$127.3m) for the 12 months to the end of December 2015 compared to QAR420.3m in the same period in 2014. Earnings per share grew to QAR 8.58 in 2015 compared to QAR7.78 a year earlier, according to a Qatar Stock Exchange bulletin. QNCC Board of Directors have recommended distribution of 40 per cent cash dividends and 10 per cent bonus shares. The company is currently constructing a fifth kil...

Qatar consumption forecast to double by FY17

18 April 2014, Published under Cement News

Cement consumption in Qatar is expected to double from current levels within the next three years, a new report has forecast. Dubai-based financial services firm Arqaam Capital said in its report on Qatar’s cement sector released this week that consumption will be driven by heavy government infrastructure spending. Citing various official data, the report said Qatar is expected to open up to QAR182bn (US$50bn) construction projects this year, up 15 per cent compared to last year. The m...

Qatar National Cement posts US$119.7m net profit in 2013

28 January 2014, Published under Cement News

Qatar National Cement Company registered an increase in net profit to QAR436m (US$119.7m) for the 12 months to December 2013, compared to QAR425.3m a year earlier, the company said yesterday in a bourse filing. Earnings per share (EPS) stood at QAR8.88, up from QAR8.66. The company's board of directors has proposed a 60 per cent cash dividend for 2013, translating into QAR6/share.

Letter of Intent signed for new Qatari plant

02 December 2013, Published under Cement News

FLSmidth has confirmed that it has signed a Letter of Intent with Qatar National Cement for a cement plant, following reports in the Qatari media. The Danish equipment supplier said in a statement if and when the contract is finalised and becomes binding, it will immediately inform the market.   The project is for a new cement plant in Qatar.

Qatar could face shortages due to lack of capacity additions

17 October 2013, Published under Cement News

Qatar could face a “major cement shortage” in the near term with no major capacity expansions in the pipeline to meet expected strong rises in demand, a new report by Global Investment House (GIH) has cautioned. In anticipation of the FIFA World Cup in 2022 in Qatar, there are numerous projects planned and underway to ensure that the country has the right infrastructure and competition venues to support an influx of visitors. Projects are currently focused on housing, hotels, 12 stadi...

Lower revenues and higher costs hurt QNCC net profit

05 March 2013, Published under Cement News

Qatar National Cement (QNCC) reported a seven per cent decline in 2012 net profit on the back of lower revenues and higher costs. Net profit for the 12 months to the end of December 2012 fell to QAR425.31m (US$116.8m) while revenues were down three per cent to QAR964.28m. The company also registered an eight per cent rise in selling and distribution costs to QAR8.64m, general and administrative expenses were up by seven peer cent and an impairment loss of five Located at Umm Bab, 82km ...