Cement News tagged under: Saudi Arabia

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Yanbu Cement reports 183% rise in net profit for 2019

05 March 2020, Published under Cement News

Saudi Arabia’s Yanbu Cement has reported a 182.7 per cent increase in net profit to SAR257.8m (US$68.75m) for 2019, compared to SAR91.2m in the previous year. The company’s revenue also climbed 27.2 per cent YoY to SAR975.7m from SAR767.1m.

Saudi Cement Co records 13% increase in net profit

04 March 2020, Published under Cement News

Saudi Cement Co has seen a 12.7 per cent YoY increase in net profit to SAR451.4m (US$120.37m) for the full-year 2019 period, compared with SAR400.5m in the previous year. Total sales for the company also advanced 28.6 per cent YoY to SAR1.44bn from SAR1.12bn.

Tabuk Cement posts SAR24.2m profit in 2019

02 March 2020, Published under Cement News

Saudi-based Tabuk Cement Co has posted a net profit after zakat and tax of SAR24.2m (US$6.45m) in 2019, versus a loss of SAR98.9m in 2018. Sales in 2019 surged 59.8 per cent to SAR238.7m from SAR149.4m in the previous year on the back of increases in sales volumes and higher sales prices.

Najran Cement reports SAR53.5m profit in 2019

26 February 2020, Published under Cement News

Saudi Arabia’s Najran Cement Co has reported a net profit of SAR53.5m (US$14.27m) in 2019, a significant improvement upon the SAR83.5m net loss in the previous year. Sales also advanced 49.6 per cent YoY to SAR416.4m from SAR278.4m in 2018, on the back of an increase in sales volumes and prices.

GCC: a return of fortunes?

17 February 2020, Published under Cement News

The performance of the GCC cement sector improved significantly in 2019 when compared with the previous year as higher domestic consumption combined with increased export demand. For 2020, the outlook remains equally promising, supported by expansionary budgets and the normalisation of relations between GCC countries. Most of the GCC countries, including Oman, announced expansionary budgets, fuelling expectations of increased construction activity going forward GCC cement sec...

Yamama Cement reports full-year profit

13 February 2020, Published under Cement News

Saudi Arabia-based Yamama Cement Co has posted full-year 2019 sales of SAR801.9m, representing a 53.9 per cent increase when compared with SAR521.2m in 2018. The company’s net profit after zakat and tax was SAR256.3m in 2019, when compared with a loss of SAR58.1m in the previous year.

Hail Cement reports profit rise in 2019

04 February 2020, Published under Cement News

Saudi cement producer Hail Cement has posted a net profit after zakat and tax of SAR59.7m (US$15.9m) in 2019 following a loss of SAR25m in 2018. The company increased its sales from SAR196m in 2018 to SAR274.4m in 2019.

Qassim Cement sees net profit treble in 2019

03 February 2020, Published under Cement News

Saudi Arabia-based Qassim Cement Co reported a 83.7 per cent increase in revenue to SAR781.9m (US$208.5m) in 2019 from SAR425.7m in 2018. The company net profit after zakat and tax nearly trebled to SAR360.7m in 2019. In 2018 it was SAR120.8m. The company attributes the improvements to a rise in sales and an increase in average selling price.

Tabuk Cement appoints new board members

27 January 2020, Published under Cement News

Saudi Arabia’s Tabuk Cement Co has announced the appointment of Saoud bin Solaiman Al Juhni as its new chairman. Furthermore, the company also nominated new members of the board, including Abdulaziz bin Abdelrahman Al Khamis as deputy chairman. The board is expected to serve for the new term, effective from 26 January 2020 until 25 January 2023.

Saudi Arabia records 22% production increase in December

09 January 2020, Published under Cement News

Saudi Arabian cement sales rose 24.2 per cent YoY in terms of volume in December 2019, while total production increased 21.7 per cent to 4.7Mt from 3.86Mt, according to Mubasher. Cement inventories in the country declined 0.6 per cent YoY to 1.18Mt in the last month of 2019. Southern Province Cement Co recorded the highest volume of sales during the month, totalling around 708,000t, followed by Saudi Cement Co with 586,000t.