Cement News tagged under: Saudi Arabia
Al Jouf Cement 4% decline in 1Q profit20 April 2016, Published under Cement NewsSaudi Arabian cement producer, Al Jouf Cement Co posted on Tuesday a net profit of SAR 24.72m (US$6.59m) in the first quarter of 2016, four per cent down from SAR 25.76m (US$6.87m) in 1Q15. The fall in in profit was a result to the drop in the average selling price and higher finance charges and expenses of Zakat in this period, despite the increase in sales volume and other revenue from an inventory adjustment, according to a bourse filing |
Najran Cement profits suffer steep fall18 April 2016, Published under Cement NewsNajran Cement (Saudi Arabia) posted a net profit of SAR61.08m (US$16.29m) in the first quarter of 2016, registering a decline of 33.6 per cent from SAR92m (US$24.53m) in the same period in 2015. The profit slump was due to decreased sales and production in combination with a rise in the cost of imported clinker used in the manufacture of cement, Najran said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday. It added that rising general and administrative expenses despite an ... |
Hail Cement profits slips 12 per cent18 April 2016, Published under Cement NewsHail Cement Company, Saudi Arabia, posted a 11.74 per cent decline in net profit for the first quarter of the fiscal year 2016, according to a bourse filing posted Sunday. The cement firm generated SAR33m (US$8.8m) net profit, down from SAR37.5m (US$10m)in the prior-year period. The profit decline was ascribed by the company to a rise in cost of sales due to market volatility. |
Cement exports on the rise15 April 2016, Published under Cement NewsAs global cement capacity continues to rise against a limited demand increase, there is a swell of cement producers chasing ever-smaller export markets across the globe. News this week that Saudi Arabia has lifted its ban on exports will increase pressure on prices in the Middle East region. The Saudi Arabian export ban had been in place since 2012 when it was renewed from an earlier 2008 period of export control. While lifting of the ban provides a good opportunity for Saudi producers to ... |
Saudi Arabia lifts ban on cement exports as construction sector slows13 April 2016, Published under Cement NewsA senior official in Saudi Arabia has said that the kingdom's ban on cement exports has been lifted. According to reports from Reuters, the ban - imposed in 2008 and renewed in 2012 - has been overturned because of a slowdown in the construction sector, which has led to an oversupply of cement. Dr Ahmed Zugail, director general of Yanbu Cement Company and deputy head of the National Committee for Cement Companies, told the Al Riyadh newspaper that he welcomed the news, given that Saudi... |
Qassim Cement profits fall 17% in 1Q1611 April 2016, Published under Cement NewsSaudi Arabia’s Qassim Cement saw its profits drop 16.8 per cent YoY to SAR135.4m (US$36.1m) from SAR162.7m. The fall in profits has been attributed to an increase in cost of sales which was unable to offset the rise in sales value and volume during the first quarter. |
Yanbu Cement Co net profit down 11.1% in 1Q1607 April 2016, Published under Cement NewsYanbu Cement Company posted a 11.11 per cent decline in net profit for the first quarter of 2016, according to a bourse filing sent Wednesday. The cement producer generated SAR184m (US$49m) earnings in the three-month period, down from SAR207m reported in the same quarter a year earlier. Yanbu Cement ascribed the lower profits to a decline in sales volume in addition to a rise in fuel prices. |
ThyssenKrupp Industrial Solutions to expand in MENA22 March 2016, Published under Cement NewsThyssenkrupp sees future growth in the MENA, and particularly in Saudi Arabia and Egypt, for its industrial solutions business area. Boris van Thiel, thyssenkrupp's CEO of the MENA region, said thyssenkrupp sees a huge potential especially in the area of energy efficiency programmes and downstream value chains. Mr Van Thiel further said that the importance of the MENA region for its business cannot be overstated. “Already today, more than 20 per cent of our global sales are achieved in th... |
Saudi: Eastern Province Cement Co begins trial operations of new mill15 March 2016, Published under Cement NewsEastern Province Cement Co has commenced trial operations of its new 150tph cement mill, with commercial operations set to begin in the second quarter of this year, according to a bourse statement issued Monday. The Saudi cement producer added that the relevant financial impact is difficult to be set at this stage as it depends on market supply and demand. |
Saudi producers prepare for discussions over export ban19 February 2016, Published under Cement NewsSaudi cement producers will meet government officials soon to discuss lifting the ban on their exports by around 20 per cent, a Saudi daily reported. In turn cement producers will ensure a two-month supply for the local market, the Arabic-language Alyaum newspaper said, quoting Abdullah Ridwan, chairman of the construction and property committee at the Jeddah chamber of commerce and industry. “The cement companies in the Kingdom are preparing to meet representatives from the commerce and i... |