Cement News tagged under: Saudi Arabia

RSS feed

Saudi full-year output update

13 February 2015, Published under Cement News

Saudi Arabia, the largest cement producer in the GCC, produced over 57Mt of cement in 2014, according to a report in Arab News. Demand in the kingdom continues to grow fuelled by huge mega projects including include railways, airports, stadiums, medical cities, utilities, and petrochemical facilities. Saudi Arabia is the largest cement producer in the GCC with 63Mta, accounting for 50 per cent of the region’s capacity. In 2014 it imported 2.5Mt of compared to 4.9Mt in 2013, according to d...

Saudi firms’ net profit up 6% YoY

30 January 2015, Published under Cement News

The net profit of the Saudi cement firms has registered an increase by six per cent in 2014, reaching US$1.56bn compared with US$1.48bn recorded in 2013, Arab News reported. Profit during the final quarter of 2014 increased by 31 per cent to US$382.86m compared with US$292.46m, during the same period in the previous year, In 2014, seven of the 14 listed companies grew, six companies saw profits drop while Um Al-Qura Company, registered losses in the year. Arabian Cement Company (ACC) reg...

Al Jouf net profit advances 11.6% in 2014

29 January 2015, Published under Cement News

Saudi-based Al Jouf Cement recorded a net profit of SAR60.4m (US$16.1m) for 2014, up from SAR54.1m in 2013, the company said in a statement to the Saudi Stock Exchange. The increase was attributed to lower cost of sales and general and marketing expenses, according to the company. Earnings per share (EPS) stood at SAR 0.46 in 2014, versus SAR0.42 a year ago. Operating profit rose to SAR72.5m, up 16 per cent YoY on the year and the gross profit came in at SAR103.5m, up from SAR97m. ...

Saudi: Al Jouf Cement's 4Q14 profit surges

22 January 2015, Published under Cement News

Al Jouf Cement Co posted a SAR20.7m (US$5.51m) net profit for the fourth quarter of 2014, with an increase by 160.49 per cent YoY from SAR7.9m and 141.26 per cent QoQ from SAR8.6m. Meanwhile, FY14 net profit amounted to SAR60.4m, with a rise by 11.69 per cent from SAR54.1m a year earlier. The company attributed the profit rise to higher sales and lower cost of sales.

Yamama Cement Co fourth-quarter earnings down 14.61% YoY

19 January 2015, Published under Cement News

Yamama Cement Co recorded a 14.61 per cent decline in net earnings in the fourth quarter of 2014 to SAR152m (US$40.5m), compared to SAR178m in the comparative period of the previous year. However, earnings were up 10.95 per cent compared to the SAR137m recorded in the 3Q14. Full-year profit also declined by 22.87 per cent YoY from SAR870m. Operating profit also fell 20.63 per cent to SAR658m, compared with SAR829m a year earlier.

Saudi Cement Co 4Q net profit up 8.91%

15 January 2015, Published under Cement News

Saudi Cement Co has posted a 8.91 per cent rise in fourth-quarter net profit to SAR269m (US$71.7m) from SAR247m and 16 per cent QoQ from SAR232m. The YoY rise in fourth-quarter net earnings was attributed to higher sales due to improved local demand. The cement producer reported SAR1075m net profit for the fiscal year 2014, a decline by four per cent from SAR1124m a year earlier. The company ascribed the lower cement sales to lower local demand and an increase in selling and distribution ex...

Saudi monthly cement sales up 17% YoY

14 January 2015, Published under Cement News

Saudi Arabian cement sales in December 2014 rose 17 per cent YoY to 5.59Mt from 4.79Mt in the same month of the year before, latest statistics published by domestic producer Yamama Cement Co reveal. Saudi Cement Co registered the largest sales volume during the month with 785,000t, followed by Southern Province Cement (769,000t) and Yanbu Cement (623,000t). The highest YoY increase in December 2014 was achieved by Najran Cement (+109 per cent), followed by Hail Cement (+48 per cent) and...

Yanbu Cement 4Q net earnings up 20.63%

12 January 2015, Published under Cement News

Saudi producer Yanbu Cement Co posted SAR193m (US$51.4m) net earnings for the fourth quarter of 2014, rising 20.63 per cent from SAR160m in 4Q13 and 18.4 per cent from SAR163m in 3Q14. However, full-year net earnings fell 2.31 per cent YoY from SAR821m to SAR802m. Earnings per share (EPS) decreased from SAR5.21 to SAR 5.09. The cement producer attributed fourth quarter profit growth to higher sales and lower sale costs on improved operating efficiency. The full-year profit decl...

Stronger markets in 2015?

09 January 2015, Published under Cement News

What does 2015 have in store for the cement sector? After three relatively poor years in terms of global construction expansion, Morgan Stanley (UK) predicts a tentative recovery in world consumption in spite of a significant slowdown in China, according to new analysis published in International Cement Review. Morgan Stanley expects global cement demand, inclusive of China, to rise to 2.8 per cent in 2015, marginally up from the 2.5 per cent growth recorded in 2014, which was the ...

Arabian Cement Co names chairman

07 January 2015, Published under Cement News

Arabian Cement Co’s board of directors on Thursday approved the appointment of Abdullah Mohammed al-Eissa as board chairman, with a three year term effective 1 January 2015. In early December, the company elected a new board of directors. The other newly-elected board members are Ghassan al-Souleiman, Saud al-Souleiman, Adel al-Zaid, Ibrahim al-Rajhi, Ibrahim Aba al-Khail, Sami Baroum, Mu'taz al-Azawi and Alwaleed al-Dareean.