Cement News tagged under: Saudi Arabia
Tabuk Cement reports 30% YoY increase in revenue in 202224 March 2023, Published under Cement NewsSaudi Arabia’s Tabuk Cement Co has reported revenue of SAR297.55m (US$79.35m) in 2022, up 30.2 per cent from the SAR228.53m seen in 2021. Over the same period, net profit after zakat and tax advanced 18 per cent from SAR17.76m to SAR20.97m. Meanwhile, earnings per share rose from SAR0.20 to SAR0.23, reports Zawya. In the first nine months of 2022, revenue was up 20.6 per cent YoY at SAR210.11m, while net profit fell 80.71 per cent YoY to SAR3.36m. |
Umm Al Qura sees net profit plunge 72% YoY in 202223 March 2023, Published under Cement NewsSaudi Arabia-based Umm Al Qura Cement Company has reported revenue of SAR221.21m (US$58.99m) in 2022, down 20.66 per cent from the SAR278.83m seen in the previous year. Net profit after zakat and tax over the same period fell 71.77 per cent to SAR22.98m, reports Zawya. Earnings per share in 2022 came in at SAR0.42, compared to SAR1.48 in 2021. In the first nine months of 2022, the company saw revenue contract by 15.13 per cent YoY to SAR179.29m, while net profit after zakat and tax was do... |
Saudi Arabia cement exports advance 46% in February22 March 2023, Published under Cement NewsCement sales in Saudi Arabia edged up one per cent to 4.215Mt in February 2023 from 4.155Mt in February 2022, according to Yamama Cement . Export sales, which accounted for four per cent of total sales, advance 46 per cent YoY to 119,000t from 174,000t in February 2021. January-February 2023 In the year to date domestic sales declined 10 per cent YoY to 8.118Mt from 8.994Mt in January-February 2022. Export sales surged 113 per cent to 389,000t in the 2M23 from 183,000t in the 2M22. Sa... |
Eastern Province Cement FY profit sees 26% drop21 March 2023, Published under Cement NewsFull-year sales of Saudi Arabia’s Eastern Province Cement advanced 3.4 per cent to SAR784m (US$209.1m) in 2022 to SAR758m in the year-ago period. Net profit after zakat and tax was down 25.9 per cent to SAR143m in 2022 from SAR193m a year ago as financing, precast sales, general and administrative, and general and selling expenses, and other expenses all increased. Meanwhile, Eastern Province Cement has invited bids from specialist companies for the establishment of a new clinker prod... |
Northern Region Cement posts 5% increase in 2022 net profit21 March 2023, Published under Cement NewsRevenues of Northern Region Cement Co in Saudi Arabia increased by 10 per cent to SAR617.95m in 2022 from SAR561.91m in 2021. Net profits after zakat and tax advanced 5.4 per cent YoY to SAR112.45m from SAR106.67m in 2021. Earnings per share increased to SAR0.62 on 31 December 2022, up from SAR0.59m in the previous year. Appointments The company also announced Sulaiman Salim Al Harbi and Faisal Hamad Al Sugar as the new chairman and vice-chairman of the board, respectively for the ... |
City Cement reports drop in net profit in 202221 March 2023, Published under Cement NewsSales of Saudi-Arabia-based City Cement saw a 13.1 per cent fall to SAR431.4m (US$115m) in 2022 from SAR496.7m in 2021, reports Reuters. Net profit after zakat and tax was down 28.3 per cent YoY to SAR115m from SAR160.3m in 2021. City Cement operates a 5.28Mta integrated cement plant at Marat , northwest of Riyadh in central Saudi Arabia. |
Yanbu Cement full-year profit up 35%16 March 2023, Published under Cement NewsSaudi Arabia-based Yanbu Cement has reported a 35 per cent increase in full-year net profit to SAR215.41m (US$57.44m) from SAR159.56m in the year-ago period. Sales were up five per cent YoY to SAR981.17m from SAR934.03m on the back of improved selling prices in the domestic and export markets. In addition, the cost of sales decreased. Clinker production increased. |
Najran Cement subsidiary secures SAR85m loan14 March 2023, Published under Cement NewsNajran Cement ’s transportation subsidiary obtained a long-term Shariah-compliant credit facility, at a value of SAR85m (US$22.7m), from Al Rajhi Bank. In a statement to Tadawul, the cement producer said that the facility will be repaid within six years in semi-annual installments, with a one year-grace period The facility aims to finance the subsidiary’s expansion in its basic business, the company said, adding that there are no related parties involved in the transaction. |
Arabian Cement posts 12% rise in profits in 202228 February 2023, Published under Cement NewsSaudi-Arabia-based Arabian Cement has reported net profits after zakat and tax of SAR181m (US$48.3m) in 2022, representing a YoY increase of 12.1 per cent from SAR161.5m. The company saw a six per cent decline in revenues to SAR970.9m in 2022, up from SAR1.03bn in 2021. Earnings per share grew to SAR1.81 from SAR1.62 in 2021. |
Yamama Cement to exceed 30,000tpd clinker production27 February 2023, Published under Cement NewsSaudi Arabia-based Yamama Cement Company expects its clinker production to exceed 30,000tpd following the launch of commercial operations at its new factory and relocation of its seventh production line to the new facility, said the company's CEO Jehad bin Abdulaziz Al-Rasheed. The expected completion date for the relocation project is the second half of 2025, reports Zawya. The company has signed an agreement with China’s Sinoma Overseas Development Company to relocate and install th... |