Cement News tagged under: Saudi Arabia
Wärtsilä signs power plant maintenance contract with Umm AlQura Cement21 October 2015, Published under Cement NewsWärtsilä has signed a three-year maintenance agreement with Umm AlQura Cement Company for its power plant near Taif city in Saudi Arabia. With this asset management agreement, signed in August 2015, Wärtsilä assumes full responsibility for operations and maintenance of the power plant consisting of five Wärtsilä 32 engines with combined output of 47MW and its related equipment. ”We wanted a partner that can provide us with the highest possible level of risk management, ongoing maintenance a... |
Umm Al Qura Cement Q3 losses widen 75%, Saudi Arabia19 October 2015, Published under Cement NewsUmm Al Qura Cement posted SAR1.7m (US$0.45m) in net loss for the third quarter of 2015, a rise of 75 per cent from SAR6.9m (US$1.8m) logged in the same period a year earlier. Net loss for the first nine months of 2015 amounted to SAR14.1m, compared with SAR29m in the corresponding period of 2014. |
Saudi Cement third-quarter earnings down 10%16 October 2015, Published under Cement NewsSaudi Cement Co posted net earnings of SAR208m (US$55.5m) for the third quarter of 2015, down 10.34 per cent compared with SAR232m a year earlier. Net earnings for the nine-month period ended 30 September also decreased by 5.21 per cent YoY from SAR806m to SAR764m. The profit decline was due to weak sales, the cement producer said in a statement on Thursday. |
Southern Province Cement posts 29% drop in 9M15 net earnings15 October 2015, Published under Cement NewsSaudi producer Southern Province Cement Co posted net earnings of SAR202m (US$53.9m) for the third quarter of 2015, down 29 per cent compared with SAR285m a year earlier. Net earnings for the nine-month period ended 30 September also decreased by 7.6 per cent YoY from SAR800m to SAR739m. |
Yanbu Cement Co nine-month net profit down 2%12 October 2015, Published under Cement NewsSaudi-based Yanbu Cement Company reported a two per cent decline in net profit over the first nine months of 2015 to SAR597m (US$159m), compared to SAR609m in the same period of 2014. In the third quarter alone, profit was down by 11 per cent to SAR145m versus SAR163m in 3Q14, according to a bourse filing. The profit drop during the first nine months and third quarter of 2015 is mainly attributed to a decline in other revenues. |
Saudi Arabia: Qassim Cement sees 6% rise in 3Q profit09 October 2015, Published under Cement NewsSaudi-based producer Qassim Cement reported a six per cent rise in third-quarter profit to SAR115m (US$30.7m), versus SAR109m in the same quarter of last year, according to a bourse filling. For the first nine months of this year, net profit reached SAR445m, up four per cent from the SAR429m recorded in the the corresponding period of 2014. The rise in profit is attributed higher sales both in terms of volume and revenue. |
Umm Al Qura Cement signs deal with CNBM International Engineering08 September 2015, Published under Cement NewsUmm Al Qura Cement has signed an agreement with CNBM International Engineering to operate a cement production line, the company said in a bourse statement on Monday. The SAR32m (US$8.5m) agreement covers the experimental operational period and first year of operation. The deal will be financed from the company’s cash sources. |
Saudi producers' 2Q net profit drops16 July 2015, Published under Cement NewsSaudi Cement reportedly dropped an 11.8 per cent in net profit for 2Q15 to SAR254m, from SAR288m in 2Q14. It attributed the fall in net profit to lower local sales without elaborating. Another Saudi producer, Najran Cement made net earnings of SAR77.8m in the second quarter ended 30 June, falling 7.77 per cent from SAR84.3m in the year-earlier period. The profit decline was mainly attributable to the increase in selling and distribution (cement transportation incentives), general and ad... |
Hail Cement 2Q15 net earnings down 28%14 July 2015, Published under Cement NewsSaudi-based Hail Cement reported net earnings of SAR28.6m during the second quarter of 2015, down 38 per cent compared with SAR46m in the comparative period of last year. Net earnings for the first half of 2015 also slipped 18.44 per cent YoY from SAR81m to SAR66m. The profit decline was attributed by the company to an increase in direct costs due to a decrease in production volume and an increase in maintenance costs because of shutdown. |
Yanbu 2Q earnings rise to SAR246m06 July 2015, Published under Cement NewsSaudi producer Yanbu Cement Co (YCC) posted SAR246m (US$66m) in net earnings for the second quarter of 2015, rising 2.07 per cent compared with SAR241m in the same period a year earlier. The six-month earnings rose 1.57 per cent YoY from SAR446m to SAR453m. |