Cement News tagged under: Saudi Arabia
City and Umm Al-Qura Cement agree to date extension of swap deal09 April 2024, Published under Cement NewsCity Cement Co last week announced an update at the Saudi Stock Exchange (Tadawul) regarding extending a non-binding Memorandum of Understanding (MoU) concerning a securities swap deal with Umm Al-Qura Cement Co. Accordingly, it has been agreed with Umm Al-Qura Cement Co to extend this memorandum with the same previous terms and conditions for an additional six months from the date of expiration of the extension of the MoU. The extension is due to complete the necessary procedures to ... |
Al Jouf Cement records 20% revenue advance25 March 2024, Published under Cement NewsAl Jouf Cement has reported revenue of SAR301.49m (US$80.4m) in 2023, up 19.7 per cent on the previous year. According to the company, the increase is due to improved sales volumes and average selling prices. The cement producer has also reported lower production costs backed by continued operating efficiency efforts. Operating income in 2023 came in at SAR115.83m, marking a YoY advance of 59.1 per cent. In the fourth quarter of 2023, revenue stood at SAR83.74m, up 5.4 per cent on the ... |
Northern Region Cement reports 50% drop in net profit in 202325 March 2024, Published under Cement NewsSaudi Arabia-based Northern Region Cement Co saw a 11.6 per cent increase in revenue to SAR689.55m in 2023 from SAR617.95m in 2022. However, net profits were down by 49.9 per cent YoY to SAR556.39 in 2023 from SAR112.45m. In the nine-month period ended on 30 September 2023, the net profits after zakat and tax reached SAR64.7m, down 14.6 per cent YoY from SAR75.72m. |
Riyadh Cement reports 8% uptick in sales19 March 2024, Published under Cement NewsSaudi Arabia-based cement producer Riyadh Cement Co reported a 7.6 per cent increase in sales to SAR643.4m (US$171.6m) in 2023 when compared with SAR598m in 2022 on the back of an increase in sales volumes. The company’s operating income slipped by 0.4 per cent YoY to SAR201.06m in 2023 from SAR201.94m. Net profit declined by 0.6 per cent SAR188.8m in 2023 from SAR189.8m in the year-ago period. Annual earnings were affected by higher general and administrative expenses as well as zakat c... |
Southern Province Cement Co releases its 2023 financial results19 March 2024, Published under Cement NewsSouthern Province Cement Co , based in Saudi Arabia, has announced its financial results for the period ended 31 December 2023. The company recorded a drop in revenues of 12.4 per cent, from SAR1.2bn (US$320m) to SAR1.07bn over the year. Consequently, net profits plummeted 35.2 per cent from SAR301m to SAR195m. After tax and zakat, the company made SAR121m, which decreased by 49.2 per cent from SAR238m in 2022. The significant decrease in profits (after tax and zakat) led to Southern Pro... |
Eastern Province Cement net profit up 39%12 March 2024, Published under Cement NewsSaudi Arabia-based Eastern Province Cement Co reported a 38.5 per cent advance in net profit to SAR198m (US$52.8m) in 2023 when compared with SAR143m in 2022. The company’s sales increased 25.6 per cent YoY to SAR985m from SAR784m. Earnings per share reached SAR2.30 in 2023, up from SAR1.67 in the year-ago period. |
City Cement predicts 8% cost increase28 February 2024, Published under Cement NewsCity Cement has said that its total costs are expected to advance by eight per cent following the increase in the price of fuel products used in cement products that was announced by Saudi Arabian Oil Co (Aramco) last month. According to Mist News, the direct financial impact is expected to be seen from the first quarter of 2024, although the company added that its investments in alternative fuel and waste heat recovery systems had helped to mitigate some of the fuel price increase. |
KREISEL to supply Saudi Arabian project27 February 2024, Published under Cement NewsA leading Chinese EPC provider has ordered KREISEL to supply three high-pressure rotary valves size 700x700 with Ultra-Carbide®-protection for a cement producer in Saudi Arabia. Each line conveys 125tph of raw meal over a distance of 263m into the receiving silos. Compared to other pneumatic conveying systems on the market, KREISEL’s high-pressure rotary feeders are known for a very energy-efficient transport of the product, claims the company. In addition to the three high-pressure rotary ... |
SpectraFlow Analytics completes Airslide analyser installation27 February 2024, Published under Cement NewsSpectraFlow Analytics Ltd has successfully installed an Airslide analyser at Riyadh Cement in Saudi Arabia. After successfully installing six Crossbelt analysers, this represents the seventh installation of a SpectraFlow raw mill analyser for raw mill optimisation in the country. |
Arabian Cement to penalise CNBM on Rabigh project26 February 2024, Published under Cement NewsArabian Cement Co has confirmed that it will impose a delay damage penalty of five per cent on CNBM International Engineering Co for the Saudi cement producer’s new mills at its Rabigh plant. According to Zawya, the cement manufacturer first awarded the SAR362m (US$96.5m) engineering, procurement and construction (EPC) contract to CNBM in April 2015. Although the new cement mills are now completed, the project has been delayed due to discussions between CNBM and Sinoma Overseas Devel... |