Cement News tagged under: Saudi Arabia
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. |
Al Jouf Cement reports 2Q profit09 August 2019, Published under Cement NewsSaudi cement producer Al Jouf Cement posted sales of SAR46.2m (US$12.3m) in 2Q19, representing a 70 per cent rise when compared with 2Q18 when sales reached SAR27.2m, according to Reuters. Net profit after zakat and tax in the second quarter rose to SAR0.1m, a significantly improved performance when compared with 2Q18 when the company posted a loss of SAR13.7m. The rise in profit has been attributed to and increased sales volume and average selling price. |
Qassim Cement sees 2Q profit rise05 August 2019, Published under Cement NewsSaudi cement producer Qassim Cement reported a net profit after zakat and tax of SAR70.5m (US$18.8m), a 383 per cent increase YoY, when net profit reached SAR18.4m, according to Reuters. Second-quarter sales surged from SAR88.1m in the 2Q18 to SAR154.5m in the 2Q19. The rise in sales was driven by an increase in average selling prices. |
Saudi Cement producers profits recover in 2Q1902 August 2019, Published under Cement NewsSaudi Cement posted net income of SAR92.3m (US$24.613m) in 2Q19 and profits were up 59 per cent in the period compared to 2Q18, but declined by 30.3 per cent compared to 1Q19. The company recorded cement sales of SAR338.6m and received average prices of SAR217.6/t. "The YoY increase is mainly attributed to improved selling price and volumetric sales, despite an increase in administrative expenses. Deviation in 2Q earnings from our estimates is mainly ascribed to higher-than-expected cost... |
Yamama Cement reports 47% net profit increase in 2Q1931 July 2019, Published under Cement NewsSaudi Arabia’s Yamama Cement has recorded a 46.6 per cent YoY increase in net profit for the second quarter of 2019, rising to SAR53.2m (US$14.19m) from SAR36.3m. The company’s sales saw a similarly positive result, advancing 47.6 per cent to SAR165.3m against SAR112m of the 2Q18. |
Saudi Arabia to reimpose cement export fees29 July 2019, Published under Cement NewsAfter two-years of freezing cement and steel export fees, Saudi Arabia will begin levying fees on cement leaving the country in a bid to prop up falling oil revenues. The ban on cement exports from Saudi Arabia was lifted in mid-2017 when domestic demand slumped and cement stocks rose. Fees on cement exports were cut by 50 per cent over the last two years. However, Trade and Industry Ministry spokesman, Abdul Rahman Hussein, said: "The Ministry will shortly resume levying fees on steel a... |
Najran Cement narrows net loss in 2Q1929 July 2019, Published under Cement NewsSaudi Arabia’s Najran Cement has narrowed its net loss to SAR2.6m (US$693,333) in the 2Q19, compared with SAR31.7m of the year-ago period. Sales rose 38 per cent YoY to SAR76.3m from SAR55.3m. The company also reported a decrease in the cost of production per tonne of cement and higher prices. |
Tabuk Cement records 48% sales surge in 2Q1924 July 2019, Published under Cement NewsSaudi Arabia’s Tabuk Cement has reported a SAR9m (US$2.4m) net profit for the second quarter of 2019, against a loss of SAR36.1m in the 2Q18. The company’s sales saw a 48.2 per cent YoY surge to SAR61.2m from SAR41.3m. The average selling price across the quarter also improved. |
Saudi sales rise in June 201912 July 2019, Published under Cement NewsCement sales in Saudi Arabia increased 20 per cent YoY to 2.55Mt in June 2019, compared to 2.13Mt in the same month last year, according to data compiled by Yamama Cement Co. Only four cement producers out of 17 in total reported lower sales for the month. Tabuk Cement saw the largest decline (-27.9 per cent to 57,000t), followed by Hail Cement (-21 per cent to 64,000t) and Yamama Cement (-13.4 per cent to 219,000t). However, 12 manufacturers reported an increase in sales. This was led by... |
Najran Cement resumes production at 6500tpd line25 June 2019, Published under Cement NewsSaudi Arabia’s Najran Cement has temporarily suspended operations of its second production line. However, it will resume production at its 6500tpd third line from 1 July due to a decrease in its clinker inventory, according to Reuters. The change in production lines is also expected to increase operational efficiency and decrease fixed costs in the FY19 by SAR5.7m (US$1.52m). |