Cement News tagged under: Saudi Arabia

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Riyadh Cement completes record kiln operation

01 December 2020, Published under Cement News

Saudi Arabia-based Riyadh Cement Co has completed its longest kiln operation without interruption with 70 days of continuous operation (1676.67h) without any single minute interruption. The plant also operated the kiln at 103 per cent capacity, averaging 5145tpd of production from 5000tpd of designed plant capacity.   The stoppage was preventively taken to inspect the clinker pan conveyor which took about 4-6h maintenance. This performance was only possible due to the high leve...

Al Akaria sells stake in Hail Cement

23 November 2020, Published under Cement News

Saudi Arabia’s Al Akaria, a real estate company, has sold its entire stake in Hail Cement Co at a value of SAR96.9m (US$25.84m). The company had a stake of 6m shares and made a profit of SAR36.9m in the transaction, according to a statement on the Saudi Stock Exchange.

Saudi: a belief in brighter days

17 November 2020, Published under Cement News

Some of the shine has been taken off Saudi Arabia’s cement market as a result of the COVID-19 pandemic and lower oil prices. However, the sector remains relatively healthy and the housing market is expected to continue driving demand, while the implementation of mega projects could be a game-changing catalyst. By EFG Hermes, Saudi Arabia. Saudi Arabia’s long-term potential trumps short-term challenges Despite the COVID-19 shock, cement demand in Saudi Arabia is expected to grow ...

Saudi Arabian cement companies see combined profits rise 39%

12 November 2020, Published under Cement News

The combined profits of 14 Tadawul-listed Saudi cement companies grew by 39.3 per cent YoY to SAR840.87m during the 3Q20, compared with SAR603.54m in the same period of 2019, according to Mubasher. A total of 13 cement firms achieved growth in quarterly profits, while Northern Region Cement saw profits fall. The net profit of Southern Province Cement Co was the highest in the third quarter, rising 66.7 per cent YoY to SAR150m. Qassim Cement saw a 22.1 per cent advance in profit to SAR1...

Saudi Cement sees revenue advance 25% YoY

02 November 2020, Published under Cement News

Saudi Cement saw its revenue advance 24.7 per cent YoY to SAR387m (US$103m) in the 3Q20, supported by a 19.8 per cent growth in cement volumes to 1.6Mt.Gross profits and operating income increased by 23.8 per cent YoY and 22.8 per cent YoY, respectively. In the first nine months of 2020, Saudi Cement saw a volume growth of 9.9 per cent YoY.

Al Jouf Cement sees surge in net profit for the 3Q20

02 November 2020, Published under Cement News

Saudi Arabia’s Al Jouf Cement reported a 643.4 per cent YoY surge in net profit to SAR8.22m (US$2.19m) for the third quarter of 2020, compared to SAR1.1m in the corresponding period of last year. The company’s revenue advanced to SAR68.9m in the July-September period, rising 155.5 per cent YoY. The growth in quarterly earnings was supported by an increase in sales volume and value, coupled with a decrease in the cost of sales per tonne as production rose, according to a stock exchange sta...

Umm Al-Qura Cement announces 37% revenue increase

30 October 2020, Published under Cement News

Saudi Arabia’s Umm Al-Qura Cement has announced a 37 per cent YoY rise in revenue to SAR87.61m (US$23.36m) for the third quarter of 2020, compared to SAR63.96m in the year-ago period. Net profit also surged 68.5 per cent to SAR31.91m from SAR18.94m in the 3Q19.

Eastern Province Cement posts 19% rise in profit

28 October 2020, Published under Cement News

Saudi Arabia’s Eastern Province Cement reported a net profit of SAR43m (US$11.47m) in the 3Q20, rising 19.4 per cent YoY from SAR36m in the year-ago period. However, the company's revenues declined by 8.6 per cent to SAR159m from SAR174m in the 3Q19. During the first nine months of 2020, the company's net profits rose 38.6 per cent YoY to SAR158m from SAR114m in the corresponding period of 2019. Its revenues also advanced 4.9 per cent to SAR539m against SAR514m in the 9M19.

Hail Cement sees 200% increase in profit

26 October 2020, Published under Cement News

Saudi Arabia’s Hail Cement Co has reported a 200.4 per cent rise in profits to SAR22.8m (US$6.08m) for the third quarter of 2020, compared with SAR7.59m in the year-ago period. Revenue also increased 15.2 per cent YoY to SAR71.7m in the 3Q20. During the period from January to September, the company’s profits surged to SAR84.8m, an increase of 200.5 per cent YoY.

Yamama Cement sees revenues of SAR58.12m in 3Q20

21 October 2020, Published under Cement News

Yamama Cement (YSCC) posted a revenue of SAR218m (US$58.12m) in 3Q20, a YoY growth of 16.6 per cent.  Cement volumes grew by 24.9 per cent in 3Q20 compared to 3Q19 at 1.13Mt. Gross profits and operating income increased by 27 per cent YoY and 33.4 per cent YoY respectively, aided by higher volume and the resulting operating leverage.  For the nine months, YCC registered a volume growth of 23.9 per cent YoY. Growth was aided by strong momentum in real estate activities in the local...