Cement News tagged under: Saudi Arabia
Qassim Cement sees profits surge in 3Q1928 October 2019, Published under Cement NewsSaudi Arabia’s Qassim cement has seen its net profits after zakat and tax advance to SAR90.16m (US$24m) in the third quarter of 2019, from SAR5.68m in the 3Q18. The increase in profits was mainly ddriven by the rise in sales, investment return and an increase in other income. Total revenues jumped by 155.7 per cent to SAR190.17m. In the January-September 2019 period, net profits were up by 166.6 per cent to SAR 216.6m compared to SAR81.23m in the same period in 2018. Revenues advanced by 6... |
Najran Cement posts SAR14.1m 3Q profit28 October 2019, Published under Cement NewsNajran Cement Co saw its profits rise to SAR14.13m (US$3.77m) in the 3Q19, up from losses of SAR23.7m in the 3Q18, according to the company’s statement to the Saudi Stock Exchange. Revenues were up 80.5 per cent YoY to SAR97.23m in the July-September 2019 period when compared with the equivalent period the previous year. In the first nine months of 2019 net profits reached SAR17.6m, when compared with losses of SAR65.63m in the 9M18. Total revenues surged by 35.7 per cent YoY to SAR279.9... |
Northern Cement reports 'robust' 3Q19 sales24 October 2019, Published under Cement NewsSaudi Arabia's Northern Region Cement Co has reported 'robust' 3Q19 financial results, according to General Manager, Obeid bin Saad Al-Subaie. "The Kingdom did not witness an improved cement demand, yet, the prices' increase helped the cement producers adjust their status," stated Mr Al-Subaie. He also added that the company has abundant stockpiles of white cement. In November, Saudi Arabia’s King Salman launched the Northern Region Cement Co's white Portland cement project, with a c... |
Hail Cement records 52% revenue increase in the 3Q1924 October 2019, Published under Cement NewsSaudi Arabia’s Hail Cement has recorded a SAR7.6m (US$1.95m) net profit in the 3Q19, compared with a loss of SAR18.3m in the year-ago period. Revenue also improved 51.7 per cent YoY to SAR62.2m from SAR41m. In the first nine months of 2019, revenue advanced 40.6 per cent to SAR184.2m from SAR130.9m. Net profit finished at SAR28.22m against a loss of SAR32.1m in the 9M18. |
Yamama Cement sees revenue surge 73% in the 3Q1916 October 2019, Published under Cement NewsSaudi Arabia’s Yamama Cement Co has returned to profit in the 3Q19, posting a SAR45.7m (US$12.1m) profit against losses of SAR46.3m in the year-ago quarter. Revenue also surged 73.1 per cent YoY to SAR186.5m. In the first nine months of 2019, net profits reached SAR178.5m compared to a SAR58.7m loss in the 9M18. The company also recorded a 56.8 per cent YoY increase in revenue to SAR565.7m from SAR360.8m. |
Al Jouf Cement renews export licence16 October 2019, Published under Cement NewsA company statement for Al Jouf Cement of Saudi Arabia stated that the company has received its renewed cement export licence as well as a new clinker export licence on 15 october 2019. Both licences are active immediately. Al Jouf Cement received its first cement export licence in February 2017. |
Aggregate cement sales rise 17% in Saudi Arabia10 October 2019, Published under Cement NewsAggregate cement sales of 17 producers in Saudi Arabia reported an overall average increase to 3.71Mt in September 2019, up 17.27 per cent compared to 3.16Mt in September 2018. The report, by Argaam, recorded domestic cement sales of 3.59Mt in September 2019 from the 17 companies. Leading the way in increased production was Northern Province Cement, whose sales rose to 183,000t in September 2019 from 35,000t in September 2018. The highest cement production was achieved by Southern Cem... |
Arabian Cement's Rabigh plant to begin operations in 2Q2027 September 2019, Published under Cement NewsConstruction work on Arabian Cement Co’s grinding plant in Rabigh, Saudi Arabia, is now 99.3 per cent complete. Full completion is due in the 1Q20 and commercial operations are scheduled to begin in the second quarter of next year. The company has stated that the contractor’s failure to comply with the schedule had caused project delays, according to a stock market filing. However, the delay in construction work has not affected the costs associated with the project and is not expected to... |
Najran Cement has reappointed its chairman04 September 2019, Published under Cement NewsSaudi Arabia's Najran Cement Co has reappointed Mohammed bin Manaa Aballala (non-executive member) as its chairman. Salah bin Yassin Allaf (independent member) was named as deputy chairman, while Abdulsalam Abdullah Aldriabi was reappointed as CEO. |
Hail Cement resumes operations after shutdown23 August 2019, Published under Cement NewsSaudi Arabia’s Hail Cement has resumed operations of its production line after shutting down for maintenance works . However, cement crushers and its packaging line remained active during the shutdown. The financial impact of the temporary stoppage is expected to appear in 3Q results. |