Cement News tagged under: Saudi Arabia

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Al Jouf Cement returns to profit

24 March 2020, Published under Cement News

Saudi-based Al Jouf Cement has reported a net profit after zakat and tax of SAR5.3m (US$1.41m) in 2019 when compared with a loss of SAR39.5m in 2018. The company saw sales rise to SAR169.8m in 2019 from SAR137.7m in the previous year. In addition, the cost of sales as well as general and marketing expenses was down.

China: outward bound

23 March 2020, Published under Cement News

China’s Belt and Road Initiative (BRI) is now an integral part of the country’s overseas expansion policy. Since its inception in 2013, the BRI has been one of the essential vehicles driving the global spread of Chinese technology and providing a platform for corporate cement and construction giants to enter new markets. ICR takes a look at the initiative’s progress to date and the impact on China’s cement industry, as its shifts from its purely domestic production base to establishing its p...

Eastern Province sees profit surge in 2019

20 March 2020, Published under Cement News

Saudi cement producer Eastern Province Cement Co (EPCC) has posted a 158.7 per cent jump in profits to SAR181m (US$48.3m) in 2019, up from SAR70m in 2018. Revenues increased 28.8 per cent to SAR729m last year. The increase in net profits after zakat and tax has been attributed to higher sales volumes and prices, investment income and a lower zakat provision and a refund on a provision for credit losses. There was also a reduction in losses on disposal of property, plant and equipment, repo...

City Cement reports 61% rise in profit

16 March 2020, Published under Cement News

Saudi Arabia’s City Cement has reported a 61 per cent YoY increase in net profit to SAR180.9m (US$48.2m) in 2019, rising from SAR112.3m in the previous year. The company’s total sales also advanced 54.1 per cent to SAR531.4m from SAR344.9m.

Southern Province Cement Co sees net profit surge 137%

11 March 2020, Published under Cement News

Saudi Arabia’s Southern Province Cement Co has seen its net profit for 2019 surge 137.4 per cent YoY to SAR463m (US$123.47m) from SAR195m. The considerable advance has been attributed to a 46.4 per cent increase in sales, amongst other factors. Company revenue also climbed 46.4 per cent to SAR1.3bn from SAR888m in 2018.

Yanbu Cement reports 183% rise in net profit for 2019

05 March 2020, Published under Cement News

Saudi Arabia’s Yanbu Cement has reported a 182.7 per cent increase in net profit to SAR257.8m (US$68.75m) for 2019, compared to SAR91.2m in the previous year. The company’s revenue also climbed 27.2 per cent YoY to SAR975.7m from SAR767.1m.

Saudi Cement Co records 13% increase in net profit

04 March 2020, Published under Cement News

Saudi Cement Co has seen a 12.7 per cent YoY increase in net profit to SAR451.4m (US$120.37m) for the full-year 2019 period, compared with SAR400.5m in the previous year. Total sales for the company also advanced 28.6 per cent YoY to SAR1.44bn from SAR1.12bn.

Tabuk Cement posts SAR24.2m profit in 2019

02 March 2020, Published under Cement News

Saudi-based Tabuk Cement Co has posted a net profit after zakat and tax of SAR24.2m (US$6.45m) in 2019, versus a loss of SAR98.9m in 2018. Sales in 2019 surged 59.8 per cent to SAR238.7m from SAR149.4m in the previous year on the back of increases in sales volumes and higher sales prices.

Najran Cement reports SAR53.5m profit in 2019

26 February 2020, Published under Cement News

Saudi Arabia’s Najran Cement Co has reported a net profit of SAR53.5m (US$14.27m) in 2019, a significant improvement upon the SAR83.5m net loss in the previous year. Sales also advanced 49.6 per cent YoY to SAR416.4m from SAR278.4m in 2018, on the back of an increase in sales volumes and prices.

GCC: a return of fortunes?

17 February 2020, Published under Cement News

The performance of the GCC cement sector improved significantly in 2019 when compared with the previous year as higher domestic consumption combined with increased export demand. For 2020, the outlook remains equally promising, supported by expansionary budgets and the normalisation of relations between GCC countries. Most of the GCC countries, including Oman, announced expansionary budgets, fuelling expectations of increased construction activity going forward GCC cement sec...