Cement News tagged under: Saudi Arabia

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Cement sales rise by 16% in Saudi Arabia in February

18 March 2019, Published under Cement News

Cement and clinker sales in Saudi Arabia rose 15.7 per cent YoY to 4.24Mt (including exports) in February 2019 compared to 3.67Mt in the previous year.   Clinker inventory increased 17.6 per cent YoY, but fell one per cent MoM to 41.88Mt in February 2019. Cement dispatches, however, jumped 9.3 per cent YoY, says Aljazira Capital.   Meanwhile, the total utilisation rate of Saudi cement sector declined to 52.8 per cent in February compared to 61.4 per cent in the same period last year.  ...

Southern Province Cement reports fall in 2018 profit

11 March 2019, Published under Cement News

Saudi cement producer Southern Province Cement Co reported a xx per cent drop in its net profit (after tax and zakat) to SAR195m (US$52m) in 2018 from SAR370m the previous year. Sales fell from SAR1.06bn in 2017 to SAR888m in 2018 as sales prices decreased.

City Cement reports 19% profit increase for 2018

05 March 2019, Published under Cement News

Saudi Arabia’s City Cement Co has noted an 18.9 per cent YoY rise in net profit to SAR111m (US$29.58m) for 2018, compared with SAR93.3m of the previous year. The increase was supported by a reduction in sales costs and raising operational efficiency, while the company also reported the final settlement with the main contractor, Sinoma International Engineering Co, for its second production line. In the final quarter of 2018, its profits climbed 229.8 per cent to SAR78.58m from SAR23.83m o...

Arabian Cement records net loss in 2018

04 March 2019, Published under Cement News

Arabian Cement has recorded a SAR26.2m (US$6.98m) loss for the full-year 2018 period, compared with a SAR262.7m net profit of the previous year. The Saudi producer has attributed the loss to a drop in average selling prices, lower sales, higher financing expenses and zakat provision, according to the company’s statement to the Saudi Stock Exchange. Sales declined 34 per cent to SAR600.7m in 2018, falling from SAR905.7m in 2017. The 4Q18 saw the company’s profit drop 83.2 per cent YoY to SA...

Umm Al-Qura Cement sees 15% drop in 2018 revenues

26 February 2019, Published under Cement News

Umm Al-Qura Cement Co reported a fall in sales of -14.9 per cent to SAR164.4m (US$43.8m) in 2018 when compared to sales of SAR193.2m in 2017. Total profit decreased by 32.3 per cent from SAR71.9m in 2017 to SAR49.6m in 2018 while net profit after zakat and tax declined 84.6 per cent to SAR10m in 2018 when compared with SAR65.6m in the year-ago period.

Saudi megaprojects unable to halt cement demand decline in 2019

21 February 2019, Published under Cement News

Saudi Arabia’s high-profile large-scale project will be unlikely to halt a fall in cement demand in 2019, according to Al Rajhi Capital. The third-quarter of 2018 saw sales volumes decrease by 13 per cent YoY with average sales prices remaining week despite the price hike in the fourth quarter experienced by some cement producers. In 2019 this decline in demand is expected to continue as the government’s capital spending remains limited and construction costs rise. The research house for...

Saudi Arabia to invest US$20bn in Pakistan

19 February 2019, Published under Cement News

Saudi Crown Prince Mohammad bin Salman is investing US$20bn under phase one in Pakistan for number of projects in energy, petrochemicals, minerals, tourism and other projects.   The crown prince, who is visiting Pakistan for two days on the invitation of Prime Minister Khan, was accorded a red carpet welcome and presented a guard of honour at the Prime Minister's House.   Both government have signed number of MoUs to pave the way for mutual development of projects in future. Expert belie...

Saudi cement sales fall 9% in January

13 February 2019, Published under Cement News

Cement sales in Saudi Arabia declined by nine per cent in January 2019 when compared with sales in the previous year. Sales volumes of companies listed on the Tadawul fell 9.3 per cent YoY to 3.7Mt, according to a monthly report by Yamama Cement.  Cement stockpiles increased to 1.12Mt from 1.05Mt. Southern Province Cement Co posted the highest sales in January, up 27 per cent YoY to 569,000t. Saudi Cement Co followed with sales of 452,000t, representing a YoY decrease of 11.7 per cent. N...

Hail Cement sees a 19% increase in revenue

06 February 2019, Published under Cement News

Saudi Arabia’s Hail Cement made a net loss of SAR23.55m (US$6.27m) in 2018, compared with a SAR15.54m profit in 2017. However, revenue increased 19.1 per cent YoY to SAR195.98m. In the final quarter of 2018, the company recorded a 23.8 per cent YoY decline in profit to SAR8.83m from SAR11.59m.

Qassim Cement reports 52% decline in net profit

29 January 2019, Published under Cement News

Saudi Arabia’s Qassim Cement Co has reported a 52 per cent fall in net profit to SAR120.8m (US$32.21m) in 2018, compared to SAR251.8m of the previous year. Sales for the year also declined 32 per cent YoY to SAR425.7m from SAR625.9m. The net profit results have been attributed to a decrease in sales volume and value, driven by a lower demand of cement and intense competition, according to Reuters.