Cement News tagged under: Saudi Arabia
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... |
Southern Province Cement Line 2 due for end-June completion12 February 2016, Published under Cement NewsWork on Southern Province Cement's second production line at its Bishah plant in Saudi Arabia has been delayed, according to a company statement to the Saudi bourse. The company added that 83 per cent of the project has been completed so far and is scheduled for commissioning at the end of June 2016. The delay does not have any financial impact, the cement producer said. |
Saudi Cement Co to temporarily halt Kiln Line 608 February 2016, Published under Cement NewsSaudi Cement Co has decided to temporarily stop kiln 6, which has a capacity of 3500tpd, until domestic market conditions improve, including the lifting of the export ban. The company during a board meeting on 4 February discussed the current market conditions and continuation of export ban, which has led to a rise in clinker inventory to high levels. Since Kiln Line 6's output would have been added to the 2016 inventory levels, which has already reached around 4Mt, it is not expected ... |
Saudi: Umm Al-Qura Cement Co net loss narrows22 January 2016, Published under Cement NewsUmm Al-Qura Cement Co saw its full-year net loss narrow in 2015 to SAR24.07m compared to a net loss of SAR28m a year earlier. Operating losses were also down to SAR21.96m, compared to SAR27.12m in 2014. However, the Riyadh-based company reported net loss for 4Q15 of SAR10m, versus a net loss of SAR3.72m in the same period a year earlier. |
Southern Province Cement 4Q15 results beats estimates20 January 2016, Published under Cement NewsSaudi-based Southern Province Cement Co (SPCC) posted a strong set of results for 4Q15, with net profits at SAR298m (US$79.5m), coming in ahead of Al Rajhi Capital and consensus estimates of SAR263m and SAR257m, respectively. The rises came on the back of increased sales volumes and lesser use of imported clinker, which in turn led to lower cost of goods sold, Al Rajhi Capital said. The company’s top-line continued to grow at a healthy rate, driven by new expansion and stable cement pri... |
Saudi Cement Co reports drop in 4Q profit19 January 2016, Published under Cement NewsSaudi Cement Co reported a 32.8 per cent drop in fourth-quarter net profit on account of lower sales and an impairment charge for two kilns. In the three months to the 31 December 2015, the cement producer posted a net profit of SAR180m (US$48.03m), down from SAR268m in the corresponding period of 2014, the company said in a bourse filing. The drop was attributed to lower sales, and booking an impairment for two kilns at its Hofuf plant. The company had said last month it would book a SAR... |