Cement News tagged under: Saudi Arabia

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City Cement sees 31% rise in profit

04 August 2021, Published under Cement News

Saudi Arabia’s City Cement has posted a net profit after tax of SAR49.7m (US$13.25m) in the second quarter of the year, up 30.8 per cent YoY on SAR38m in the year-ago period. Sales also climbed 10 per cent YoY to SAR119.8m from SAR108.9m in the 2Q20.

Umm Al Qura Cement sees 17% decline in profit

03 August 2021, Published under Cement News

Saudi Arabia’s Umm Al Qura Cement has seen a 16.8 per cent decline in net profit to SAR49.45m (US$13.19m) in the first half of 2021, compared to SAR59.48m in the year-ago period. Sales also decreased 2.9 per cent YoY to SAR154.3m from SAR159.01m in the 1H20. The company also announced the resignation of its CEO, Fawaz bin Saleh Al-Mutairi, which will take effect from 1 September 2021.

Yamama Cement achieved a net profit of SAR132.6m in 1H21

29 July 2021, Published under Cement News

Saudi Arabia-based Yamama Cement recorded a net profit after zakat and tax of SAR132.6m (US$35.3m) in the 1H21, a 24 per cent fall from SAR174.8m in the same period a year ago. The company attributed the drop in net profit to lower sales volumes.  Yamama reported a net profit after zakat and tax of SAR 77.7m in 2Q21, a 53 per cent increase from SAR 50.8m in the year-ago period. The cement producer cited higher sales, and lower provisions for zakat as well as general and administra...

Yanbu Cement posts 23% rise in revenue

16 July 2021, Published under Cement News

Saudi Arabia’s Yanbu Cement Co has reported a 11.1 per cent YoY fall in net profit to SAR115.23m (US$30.73m) in the first half of 2021, compared to SAR129.56m in the year-ago period. Revenue advanced 23 per cent YoY to SAR535.09m from SAR434.33m in the 1H20. In the second quarter of the year, net profit increased 12 per cent YoY to SAR41.83m while revenue climbed 54.6 per cent to SAR242.69m in the 2Q21.

Umm Al Qura Cement appoints chairman

05 July 2021, Published under Cement News

Saudi Arabia’s Umm Al Qura Cement Co has appointed Abdullah Abdulaziz Suleiman Alabdulatif as its chairman. The board also appointed Saud Mahamed Ali Al Sabhan as vice-chairman, according to a bourse filing. The board also approved the formation of the Remuneration and Nominations committees, the appointment of representatives before the Capital Market Authority and the Saudi Stock Exchange (Tadawul).

Saudi Cement announces new board member

02 July 2021, Published under Cement News

Saudi Cement Co has announced the resignation of board member Mohammad Sulaiman Balghonaim and the appointment of Mansour Mohammed Balghonaim as a member of the board to complete the term of his predecessor for the remainder of the current term, which ends on 31 December 2021. Mr Balghonaim has around 16 years of experience in banking and currently serves as head of Business Development for Wholesale Banking at the Gulf International Bank.

Southern Province Cement announces new 10,000tpd line

03 June 2021, Published under Cement News

Saudi Arabia’s Southern Province Cement has announced a new 10,000tpd production line at its Jizan cement plant in the south of the country. The project will replace the plant’s current production lines, with construction expected to begin in the second half of 2021.

Arabian Cement sees 49% surge in profit

10 May 2021, Published under Cement News

Saudi Arabia’s Arabian Cement Co has seen a 48.5 per cent YoY surge in net profit to SAR67m (US$17.87m) in the first quarter of 2021, up from SAR45.1m in the 1Q20. Sales increased 57 per cent YoY to SAR321.5m from SAR204.6m, or up 10.5 per cent QoQ from SAR290.8m. Net income also advanced 25.7 per cent QoQ from SAR53.3m.

Saudi Arabian producers report 15% decline in net profit

07 May 2021, Published under Cement News

Saudi Arabian producers listed in the main market saw an estimated 15 per cent decline in total net profits to SAR892.5m (US$237.9m) in the first quarter of 2021, compared to around SAR1.05bn in the year-ago period, according to Al Eqtisadiah. Four companies reported growth during the quarter, while the remaining 10 saw a decline. Najran Cement recorded the highest growth in net profit at 51.4 per cent, followed by Arabian Cement Co (+48.6 per cent) and Al Jouf Cement (+15.4 per cent). Ho...

FLSmidth to upgrade Arabian Cement's Rabigh plant in 4Q21

30 April 2021, Published under Cement News

FLSmidth is to deliver a large efficiency upgrade at Arabian Cement Co’s site in Rabigh, Saudi Arabia. The order includes new DDX top cyclones, a quenching chamber and an ABC™ Cooler Inlet. Installation and commissioning is expected to be during the 4Q21.   "The Saudi Arabian cement market is highly competitive with increasing demand, we are therefore constantly looking at ways to improve the efficiency at our Rabigh site," explains Dr Badr Osama Johar, CEO at Arabian Cement Co. "With ...