Cement News tagged under: Saudi Cement Company
Saudi Cement invest SAR23m in Bahrain's United Cement14 January 2020, Published under Cement NewsSaudi Arabian Cement has bought a stake in United Cement Co BSC of Bahrain from Esterad Investment Co for SAR23m (US$6.13m). The sale is for a 36 per cent stake in United Cement, which is located in Adliya. United Cement operates a a bulk fleet of transport ships with a capacity of 3000t each and can supply more than 80,000tpm of cement to Bahrain from the GCC region. The company trades OPC, sulphate-resistant cement and white Portland cement in bulk and bagged forms. United Cement was ori... |
Saudi Arabia under pressure, seeks to boost export19 October 2018, Published under Cement NewsThis week, CemNet reported that Yamama Cement has seen a sharp 34 per cent fall in 3Q18 revenues , compared to the same period last year. Meanwhile, profitability declined, falling by around 37 per cent to SAR29.2m (US$7.8m) over the period. The prospect of lower sales though has been expected with August's figures having already seen a slowdown in the Saudi cement market. Analysts Al-Rajhi Capital are forecasting that cement demand will dip below the 40Mt level in 2018, from a market tha... |
Saudi Arabia: domestic firms' sales down 22% in November13 December 2016, Published under Cement NewsSaudi Arabian cement companies saw their sales fall 21.92 per cent YoY to 4.2Mt in November from 5.4Mt in the same month last year, according to a Yamama Cement report. Total production declined 20.2 per cent 4.23Mt in the month under review when compared to the 5.3Mt registered in November 2015. Inventories rose 16.5 per cent to 1.13Mt last month, up from 971,000t a year prior. Of the Saudi cement producers, Yanbu Cement posted the highest sales figures of 690,000t, up 11.3 per cent Y... |
Saudi Arabia: Yamama and EPPCO announce profits, Saudi Cement rebrands21 April 2016, Published under Cement NewsYamama Cement and Eastern Province Cement Company have announced their first quarter earnings for 2016 with mixed results. Yamama, the larger of the two, saw its profits fall by 14 per cent YoY in 1Q2016, to US$40m. Yamama put this down to rising fuel prices, overuse of fixed assets, a rise in general and administrative expenses and investment losses. Eastern Province Cement Company reported that its 1Q2016 profits were up 3.5 per cent YoY. It attributes this growth down to a turnaroun... |
Saudi Cement third-quarter earnings down 10%16 October 2015, Published under Cement NewsSaudi Cement Co posted net earnings of SAR208m (US$55.5m) for the third quarter of 2015, down 10.34 per cent compared with SAR232m a year earlier. Net earnings for the nine-month period ended 30 September also decreased by 5.21 per cent YoY from SAR806m to SAR764m. The profit decline was due to weak sales, the cement producer said in a statement on Thursday. |
Saudi Cement 3Q14 profits better than expected24 October 2014, Published under Cement NewsSaudi Cement posted better than expected 3Q14 financial results, beating consensus estimates, according to Al-Rajhi Capital. The cement producer’s net profit grew marginally to SAR232m (US$61.8m) by +1.3 per cent YoY. The Saudi cement sector is gradually recovering from the effects of a labour crisis, with total local sales growing 5.4 per cent YoY in September. Saudi Cement sold 1.64Mt of cement in the domestic market, down -8.5 per cent YoY, in line with Al-Rajhi’s expectations. However,... |
Saudi Cement Co signs contract with Sinoma for kiln upgrades14 May 2013, Published under Cement NewsSaudi Cement Co has announced that it has signed a contract with Sinoma Technology & Equipment Group Co to rehabilitate and restart kiln lines 4 and 5 at its Hofuf factory. Under the deal worth US$19.9m, the Saudi-Arabia based cement producer said it had signed the contract with Sinoma, adding that the work would be "fully financed through the company's own resources." The project is expected to start immediately and will be completed by the end of the year. |
Saudi Cement to rehabilitate two kiln lines, Saudi Arabia25 April 2013, Published under Cement NewsSaudi Cement Company’s board of directors has announced that the cement producer is to rehabilitate and re-operate Kilns 4 & 5 in Hofuf factory with a total designed capacity of 3000tpd of clinker. Operations are expected to resume during the fourth quarter of 2013. The company said it will announce further details of this project following the signing of the contract with the project contractor. |
Saudi Cement net profit rises 32.3% in 201214 February 2013, Published under Cement NewsSaudi Cement Company said today its net profit for 2012 rose 32.3 per cent YoY to SAR1.1bn (US$293m) thanks to higher demand. Earnings per share stood at SAR7.2, up from SAR5.43 a year earlier. The operating profit rose to SAR1.14bn in the 12 months to December 2012 from SAR865.1m in 2011. |
Saudi Cement posts 31.4% rise in 4Q12 net profit16 January 2013, Published under Cement NewsSaudi Cement Co posted a 31.4 per cent rise in its fourth-quarter net profit, fuelled by higher local demand, it said in a bourse statement on Tuesday. The firm made a net profit of SAR277.7m (US$74m) in the three months compared with SAR211.4m in the same period of 2011. Operating profit rose 36.8 per cent to SAR300.9m, an increase from SAR220m in the final quarter of 2011. |