Cement News tagged under: Saudi Arabia

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thyssenkrupp announces new country CEO of Saudi Arabia

22 May 2019, Published under Cement News

thyssenkrupp Industrial Solutions has announced that Volker Hellberg has succeeded Thomas Dreiling as its country CEO in Saudi Arabia. Mr Hellberg has a long track record in the Middle East, having joined the company in 2015. Mr Dreiling will now move to Germany and serve as the head of the company’s cement plants operating unit. Over a four-year period, he responsible for combining various thyssenkrupp businesses such as cement, mining, chemicals and services into a single entity – thyss...

Northern Cement announces 37% 1Q revenue rise

09 May 2019, Published under Cement News

Saudi cement producer Northern Cement reported a more than nine-fold rise in net profits after zakat and tax in the first quarter of 2019, according to Mubasher. Net profit reached SAR15.51m (US$4.1m), up from SAR1.46m in the 1Q18. Revenues remained stable at SAR113.3m in the1Q19 when compared with the 1Q18. Total profits increased by 67.8 per cent in the three months to SAR40.1m when compared with SAR23.9m in the year-ago period. Operational profits more than doubled to SAR40.1m in the 1Q...

Hail Cement sees 41% YoY 1Q revenue increase

08 May 2019, Published under Cement News

Saudi Arabia-based Hail Cement reported a 41 per cent YoY rise in revenues to SAR68.6m (US$18.3m) in the first quarter of 2019. “The main reason for the increase in net income in the current quarter compared to the same quarter last year is due to more sales quantity and better selling price,” the firm said in its filing to the Tadawul, the Saudi stock exchange. The results come only months after a Saudi cement sector report by Al Rajhi Capital that said that cement demand in the Middle ...

Najran Cement Co posts 159% rise in net profit

07 May 2019, Published under Cement News

Saudi Cement producer Najran Cement Co reported a 159 per cent increase in net profits (after zakat and tax) to SAR6m (US$1.6m) in the 1Q19 when compared with the 1Q18, when it reported a loss of SAR10.2m. Sales revenues reached 106.5m in the first three months of 2019, up from SAR97m in the year-ago period. Total profits reached SAR22.6m, an considerable improvement when compared with the SAR9.7m reported in the 1Q18. The improved results have been attributed to an increase in sales volu...

Southern Province 1Q profit up 18%

03 May 2019, Published under Cement News

Saudi cement producer Southern Province Cement Co reported 17.6 per cent YoY growth in 1Q profits (after zakat and tax) to SAR120m (US$32m) in 2019. When compared with the previous quarter, profits surged 130.8 per cent from SAR52m in 4Q18. The increase in profit was attributed to a 24.8 per cent increase in sales revenues to SAR342m, a 37.3 hike in sales volume and a 9.6 per cent decline in financing costs, according to a company statement to the Saudi Stock Exchange.

Umm Al Qura Cement Q1 doubles profit in 1Q19

02 May 2019, Published under Cement News

Saudi cement producer Umm Al Qura saw its first-quarter net profit, after tax and zakat, more than doubled to SAR21.5m (US$5.7m) in the 1Q19 from SAR10.2m in the 1Q18. The company attributed the rise in profit due to improved selling prices as well as an increase in sales values. First-quarter sales advanced 12.4 per cent to SAR63.5m in 2019 when compared with SAR56.5m in the year-ago period.

Saudi Cement Co sees 7% decline in 1Q net profit

01 May 2019, Published under Cement News

Saudi Cement Co reported a 6.9 per cent YoY fall in its net profit in the 1Q19. After taxes and zakat, net profit reached SAR132.4m (US$35.3m), down from SAR142.2m in the 1Q18, according to a statement to the Saudi Stock Exchange on Tuesday. The YoY drop in profit was attributed to higher sales and marketing expenses, a rise in general and administrative expenses, a growth in Islamic financing as well as a decline in the company’s share in net results of associates. When compared with th...

Tabuk Cement posts 3M profit

26 April 2019, Published under Cement News

Saudi cement producer Tabuk Cement Co has returned to profit in the first quarter of 2019, posting a SAR3.63m (US$968,000) net profit. The rise has been attributed to increased revenues and investment returns, according to a company bourse statement. In 2018 the company reported a 316.4 per cent YoY hike in net loss after zakat and taxes to SAR98.84m while revenues fell 10.3 per cent to SAR149.44m.

Arabian Cement returns to profit in 1Q19

26 April 2019, Published under Cement News

Arabian Cement net profits reached SAR37.1m in the first quarter of 2019, compared to net losses of SAR6.1m in the year-ago period, according to a statement to the Saudi Stock Exchange. Net profits surged 127.6 per cent QoQ from SAR16.3m in 4Q18. The company attributed the turnaround to higher revenues and lower costs. In addition, reduced general and administrative expenses and lower losses in its Jordan unit contributed to the more positive result.

Al Jouf Cement to convert second line to white cement production

24 April 2019, Published under Cement News

Saudi Arabia’s Al Jouf Cement Co has signed a non-binding memorandum of understanding with Riga Co to convert its second line to the production of white cement. The line, which to date produced grey cement, reportedly entered trial production in 2013 and currently has a clinker capacity of 5000tpd. The company has stated that the agreement will enter into force on the date it is signed for a period of six months.