Cement News tagged under: Saudi Arabia

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Umm Al Qura Cement sees net profit slide 54% YoY in 9M22

08 November 2022, Published under Cement News

Saudi Arabia’s Umm Al Qura Cement Company has reported a 15.13 per cent drop in revenue to SAR179.29m (US$47.8m) in the first nine months of 2022. This compares to SAR211.25m in the same period a year earlier, according to Zawya. Net profit after Zakat and tax over the same period fell from SAR61.92m to SAR28.44m marking a contraction of 54.06 per cent. In the third quarter of 2022, revenues fell 4.81 per cent YoY from SAR56.95m to SAR54.21m, while net profit after Zakat and tax plunged ...

Southern Province 9M profit contracts to SAR238m

03 November 2022, Published under Cement News

The net profit after zakat and tax of Saudi Arabia-based Southern Province Cement Co declined by 28.1 per cent YoY to SAR238m (US$63.5m) in the 9M22 from SAR331m. Revenues fell by 12.3 per cent YoY to SAR887m in the 9M22 period from SAR1.01bn in the 9M21. Third-quarter 2022 financial results In the third quarter of 2022, the company’s net profits after zakat and tax saw a 20.3 per cent improvement to SAR89m when compared with SAR74m in the 3Q21. When compared with the previous quarte...

Najran Cement reports 50% drop in profit in 9M22

02 November 2022, Published under Cement News

Najran Cement has recorded revenue of SAR375.6m (US$100.2m) in the opening nine months of 2022, down 15 per cent compared to the SAR441.89m seen in the 9M21. Net profit after Zakat and tax declined by 50.26 per cent from SAR129.51m in the 9M21 to SAR64.42m in the same period a year later. Earnings per share in the 9M22 came in at SAR0.38 versus SAR0.76 in the same period a year earlier. In the third quarter of 2022, revenue advanced by 1.43 per cent YoY to SAR127.68m, compared to SAR125....

Tabuk Cement posts 21% rise in revenue in 9M22

02 November 2022, Published under Cement News

Tabuk Cement has posted a 20.6 per cent YoY increase in revenue in the first nine months of 2022. Revenue over the period has risen from SAR174.22m (US$46.5m) to SAR210.11m. However, net profit after Zakat and tax over the same timeframe has fallen by 80.7 per cent from SAR17.42m in 9M21 to SAR3.36m in the 9M22. According to the company, despite improved sales and higher average selling prices, the loss of profit is due to an increase in the cost of sales, higher general, administrative...

Hail Cement sees net income tumble 113% in 9M22

02 November 2022, Published under Cement News

Hail Cement has posted revenue of SAR268.22m (US$71.5m) in the opening nine months of 2022, up 31.6 per cent compared to the SAR203.88m seen in the 9M21. However, net income fell by 112.5 per cent from SAR47.17m in the 9M21 to a loss of -SAR5.9m in the same period a year later. Earnings per share in the 9M22 came in at -SAR0.06 versus SAR0.48 in the same period a year earlier. According to the company, the loss is being attributed to lower average selling prices and higher cost of sales...

Arabian Cement revenue up 8% in 3Q22

31 October 2022, Published under Cement News

Arabian Cement has recorded an eight per cent increase in revenue to SAR241m (US$64.2m) in the third quarter of 2022, compared to the same period a year earlier. Profit over the same timeframe has advanced by 57 per cent to SAR59m.  Results for the opening nine months of 2022 show a six per cent YoY uptick in profit, despite sales declining by six per cent. Profits for the nine-month period came in at SAR146m, versus SAR138m in the 9M21, according to Arab News. The rise in profits is be...

Yanbu Cement posts 4% rise in profit in 9M22

27 October 2022, Published under Cement News

Saudi Arabia-based Yanbu Cement Co has announced net profit after zakat and tax of SAR156.24m (US$41.6m) in the opening nine months of 2022, up 4.38 per cent on the SAR149.69m seen in the same period a year earlier. Revenue over the same timeframe slipped 0.13 per cent YoY from SAR742.87m to SAR741.9m. In the third quarter of 2022, revenue advanced by 26.14 per cent YoY from SAR207.78m to SAR262.1m. Compared to the 2Q22, revenue was up 10.05 per cent. Net profit after zakat and tax came i...

Al Jouf posts 74% fall in profit in 9M22

27 October 2022, Published under Cement News

Saudi Arabia's Al Jouf Cement Company has reported a 35.1 per cent YoY increase in revenue in the third quarter of 2022. Revenue advanced from SAR54.9m in the 3Q21 to SAR74.1m in the same period this year. Compared to the 2Q22 revenue has improved by 49.84 per cent from SAR49.5m. Net profit after Zakat and tax in the 3Q22 came in at SAR5.94m, up 43.5 per cent YoY. According to the company this is due to growth in the quantity and value of sales, along with an increase in prices in Septembe...

Eastern Province Cement sees revenue fall 11% YoY in 9M22

26 October 2022, Published under Cement News

Saudi Arabia’s Eastern Province Cement Co (EPCCO) has posted revenue of SAR531m (US$141.6m) in the first nine months of 2022, down 11.3 per cent on the SAR598.5m seen in the same period a year earlier. Net profit after zakat and tax over the same timeframe fell 42.8 per cent from SAR159m to SAR91m. The fall in profit was attributed to lower cement sales, higher selling, general and administrative expenses, along with a decline in the share of profit of associates, according to the compa...

GCC market to expand at a CAGR of 6% in 2022-32

25 October 2022, Published under Cement News

The Gulf Corporation Council (GCC) cement market is predicted to grow at a CAGR of six per cent between 2022 and 2032, according to a report by Future Market Insights. Demand for cement by the end of the period is expected to reach a value of US$12,651m. Much of this growth is forecast to come from the residential sector on the back of population growth, along with public infrastructure and non-residential buildings, such as hospitals. According to the report, over the forecast period, Sa...