Cement News tagged under: Saudi Arabia

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Saudi cement sales rise 38% to 4.3Mt in August 2020

08 September 2020, Published under Cement News

The aggregate sales of 17 Saudi cement producers climbed 38 per cent to 4.3Mt in August 2020, compared to 3.1Mt in the same month last year, reported Yamama Cement Co. As many as 16 cement producers reported higher sales, headed by Al-Jouf Cement Co with a YoY rise of 131 per cent in August. Al-Safwa Cement Co was close behind with an increase of 116 per cent YoY. Northern Region Cement Co's sales dropped by 32 per cent YoY.   Seven companies exported 144,000t of cement in August. Saudi C...

Export licence for Qassim Cement

02 September 2020, Published under Cement News

Qassim Cement Co has been awarded a licence to export cement by Saudi Arabia’s Ministry of Commerce and Investment. The licence is effective for one year, according to a bourse statement. In the 2Q20 the cement producer posted net earnings of SAR85.47m (US$27.8m), up 21.3 per cent YoY.

City Cement shareholders agree on 26% capital cut

27 August 2020, Published under Cement News

Shareholders of Saudi-based City Cement Co have approved a 26 per cent capital cut to SAR1.4bn (US$8.34m) from SAR1.89bn, on having a capital surplus, during the extraordinary general meeting held on 25 August 2020, the company said.   The capital will be decreased as the company has excess capital. The capital reduction will be financed from the company's internal resources. However, the cement producer signed Islamic loan agreements with Saudi British Bank and Riyad Bank at a total value o...

Tabuk Cement sees sales down 18% YoY

13 August 2020, Published under Cement News

Saudi Arabia’s Tabuk Cement has seen a 94 per cent YoY decline in net profit to SAR0.54m (US$144,000) in the June quarter of 2020, against SAR8.98m in the year-ago period. Sales also declined 18.3 per cent YoY to SAR49.99m from SAR61.15m in the 2Q19.

Southern Province Cement reports 48% surge in net profit

10 August 2020, Published under Cement News

Saudi Arabia’s Southern Province Cement Co reported a 48.4 per cent surge in net profit to SAR135m (US$36m) in the 2Q20, against SAR91m in the second quarter of 2019. Sales also advanced 22.8 per cent YoY to SAR339m from SAR276m.

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.

City Cement reports 12% increase in net profit

07 August 2020, Published under Cement News

Saudi Arabia’s City Cement saw a 12.2 per cent rise in net profit to SAR36.2m (US$9.65m) in the second quarter of 2020, compared with SAR32.25m in the corresponding period of last year.  The higher profits have been attributed to a growth in sales and other revenues, alongside a decline in costs. The company also reported a 44.8 per cent increase in net profit after zakat to SAR106.66m for the 1H20, against SAR73.67m in the first half of 2019.

Yamama Cement Co reports 2% slip in 2Q revenues

28 July 2020, Published under Cement News

Yamama Cement Co reported a 2.2 per cent slip in 2Q revenues to SAR161.7m (US$43.1m) in the 2Q20 when compared with SAR165.3m in the 2Q19. The company’s net profits declined 10 per cent YoY in 2Q20 to SAR47.6m from SAR53.2m in the 2Q19. Increasing general and administrative expenses as well as lower other revenues were key factors in the profit fall.

Najran Cement posts 1H results

28 July 2020, Published under Cement News

Saudi Arabia-based Najran Cement reported sales of SAR121.5m (US$32.4m) in the second quarter of 2020. The company’s gross profit reached SAR50.3m while its operational profit stood at SAR40.4m. Net profit after zakat and tax was SAR33m. For the first half of 2020 the company posted sales of SAR277.8m and a gross profit of SAR106.8m. Operational profit reached SAR86.5m while net profit after zakat and tax reached SAR73.1m.

Arabian Cement sees 80% fall in 2Q net profit

27 July 2020, Published under Cement News

Arabian Cement Co reported a net profit of SAR7.6 (US$2) m in the 2Q20, down 79.6 per cent YoY. In the 2Q19 net profit reached SAR37.3m. Revenue declined by 15.2 per cent YoY to SAR139.6m in the 2Q20 from SAR164.6m in the equivalent period of the previous year. The company attributes the fall in net profits to a decrease in sales values and volumes at its subsidiary in Jordan, which was affected by closure due to the COVID-19 pandemic. In addition, Arabian Cement’s sales, general, admini...