Cement News tagged under: Saudi Arabia
Tabuk Cement appoints new board members27 January 2020, Published under Cement NewsSaudi 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 December09 January 2020, Published under Cement NewsSaudi 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. |
Arabian Cement Co adjusts completion date for Rabigh plant17 December 2019, Published under Cement NewsOn the back of project delays, Arabian Cement Co announced earlier this year that its new grinding plant in Rabigh, Saudi Arabia, was due for completion in the 1Q20 with commercial operations expected to begin in the following quarter. The company says the cement mills in Rabigh are 99.4 per cent completed. However, this has now been pushed back further. Commercial operations have now been projected to begin in the third quarter of 2020. The second phase of building of the clinker line... |
Saudi sales increase 24% YoY in November11 December 2019, Published under Cement NewsThe sales of 17 cement companies in Saudi Arabia amounted to 4.27Mt in November 2019, a 23.8 per cent YoY increase compared with 3.45Mt in the year-ago period, according to a report by Yamama Cement. Cement production rose by 22 per cent YoY to 4.3Mt during the period, against 3.54Mt in November 2018. Inventories showed modest growth to 1.22Mt from 1.18Mt. Southern Province Cement Co reportedly recorded the highest sales volume at 613,000t, followed by Saudi Cement Co and Yanbu Cement. |
Saudi Arabia set for recovery?27 November 2019, Published under Cement NewsWhile the latest data of the Saudi cement market has provided some reassurance in terms of the sector’s recovery, the reality on the ground urges more caution going forward as spending on megaprojects is only gradually picking up. However, there are positive signs such as emerging export opportunities and improving cement prices. By Pritish K Devassy, Al-Rajhi Capital Research, Saudi Arabia. Yanbu Cement, awarded Cement Plant of the Year in the recent ICR Cement Industry Awards 2019, ... |
Umm Al Qura Cement returns to profits07 November 2019, Published under Cement NewsUmm Al Qura Cement Co reported a profit of SAR18.9m (US$5.04m) in the 3Q19, when compared with a loss of SAR3.93m posted in the 3Q18. Revenues of the Saudi cement producers surged 89.7 per cent to SAR63.96m in the 3Q19, compared with SAR33.7m in the year-ago quarter, according to a bourse statement. For the first nine months of 2019, net profits surged by 719 per cent to SAR52.7m from SAR6.43m in the 9M18. Total revenues were up 43 per cent YoY to SAR173.9m. |
Eastern Province Cement records 300% increase in net profit06 November 2019, Published under Cement NewsSaudi Arabia’s Eastern Province Cement Co has reported a 300 per cent increase in net profit to SAR36m (US$9.6m) in the 3Q19, compared with SAR9m in the year-ago period. Sales also advanced 42.6 per cent YoY to SAR174m from SAR122m. During the first nine months of 2019, net profit surged 159.1 per cent YoY to SAR114m from SAR114m in the 9M18. The increase in profit has been attributed to higher cement sales from strong local demand, alongside lower selling and marketing expenses. |
City Cement sees 96% rise in revenues, back in profit in 3Q1905 November 2019, Published under Cement NewsSaudi-based City Cement Co reported profits of SAR50.5m (US$13.5m) in the 3Q19 when compared with SAR2.38m loses in the same quarter of 2018, according to Mubasher. Total revenues increased by 95.8 per cent to SAR127.9m in the third quarter, compared to SAR65.3m in the 3Q18, said a bourse statement. In the first nine months of 2019, net profits of City Cement soared by 283.3 per cent to SAR124m, from SAR32.39m in the same period of the previous year. City Cement generated SAR373m in revenu... |
Southern Province Cement reports 46% rise in 3Q sales30 October 2019, Published under Cement NewsSaudi cement producer Southern Province Cement Co saw its net profit after zakat and tax surge to SAR90.3m (US$24m) in the 3Q19 from SAR5.4m in the 3Q18. Third-quarter sales rose by 45.9 per cent to SAR286m in 2019 from SAR196m in the year-ago period. The company also noted a 8.1 per cent YoY fall in finance costs. |
Arabian Cement 3Q profit triples29 October 2019, Published under Cement NewsArabian Cement Co saw its net profits after zakat and tax surge to 320.8 per cent to SAR60.6m (US$16.2m) in 3Q19, compared to SAR14.4m in the 3Q18, reports Mubasher. Revenues of the Saudi cement company increased 64.1 per cent to SAR193.5m in the three-month period ended September. In 3M18 revenues reached SAR117.9m. In the first nine months of 2019, Arabian Cement achieved net profits of SAR135.1m, a considerable improvement when compared with losses of SAR42.5m in the year-ago period. ... |