Cement News tagged under: Saudi Arabia
Saudi: City Cement starts trail operations of Line 211 December 2014, Published under Cement NewsCity Cement Company has started trial operations of a second production line, the Saudi-based producer said in a bourse filing. The company said the new production line will have a capacity of 5500tpd. The trial period will last about four months. Last week City Cement announced it intends to invest SAR25m (US$6.7m) in an alternative energy project, to be carried out by Chinese engineering company Sinoma and be completed by the end of 1H15. |
Saudi: Eastern Province in talks for new production line10 December 2014, Published under Cement NewsSaudi-based Eastern Province Cement Co said in a bourse statement that the board, in a meeting held on 9 December, discussed the project of establishing a new production line, with a clinker production capacity of 10,000tpd. The board has asked for further clarification regarding cement market data. |
Saudi: City Cement Co invest in alternative energy project04 December 2014, Published under Cement NewsCity Cement Co intends to invest SAR25m (US$6.7m) in an alternative energy project, the Saudi-based producer said in a bourse statement yesterday. The project, anticipated to be completed by the end of the first half of 2015, will be carried out by Chinese engineering company Sinoma. Without providing further details, City Cement said it will use own funds and/or Murabaha financing for the initiative. |
Al Jouf sees double-digit rise in 3Q net profit, Saudi Arabia30 October 2014, Published under Cement NewsSaudi-based Al Jouf Cement Co posted a 17 per cent YoY increase in its third-quarter net profit to SAR8.6m (US$2.29m), boosted by higher sale volumes. Operating profit grew almost 19 per cent in annual terms to SAR2.5m. Gross profit rose 10 per cent to nearly SAR19.7m. During January-September 2014, the company saw its net profit fall 14 per cent on an annual basis to SAR39.7m. Earnings per share (EPS) fell to SAR0.31 from SAR0.35. Operating profit narrowed to SAR50.12m from SAR56.3... |
Saudi Arabia: Tabuk third-quarter profit down 24%29 October 2014, Published under Cement NewsTabuk Cement Co recorded SAR21.6m (US$5.76m) net profit in the third quarter of 2014, a decline of 23.94 per cent YoY from SAR28.4m. On a quarterly basis, net earnings were down 49.88 per cent from SAR43.1m. In the first nine months of 2014, net profit amounted to SAR108.7m, down 19.66 per cent compared with SAR135.3m a year earlier. |
Southern Cement 3Q net profit up 53% YoY, beats esitmates27 October 2014, Published under Cement NewsSouthern Cement posted a third-quarter net income of SAR285m (US$76m), rising 53 per cent YoY. The result was above NCB Capital and consensus estimates of SAR200m and SAR196m, respectively. However, on an adjusted basis, earnings were down 7.6 per cent YoY and below estimates by 12-14 per cent. With sales in-line at 1.56Mt, the negative surprise came from higher costs. NCBC estimated costs at SAR102/t, and believes it could have been as high as SAR 122/t. Southern Cement announced... |
Saudi Cement 3Q14 profits better than expected24 October 2014, Published under Cement NewsSaudi Cement posted better than expected 3Q14 financial results, beating consensus estimates, according to Al-Rajhi Capital. The cement producer’s net profit grew marginally to SAR232m (US$61.8m) by +1.3 per cent YoY. The Saudi cement sector is gradually recovering from the effects of a labour crisis, with total local sales growing 5.4 per cent YoY in September. Saudi Cement sold 1.64Mt of cement in the domestic market, down -8.5 per cent YoY, in line with Al-Rajhi’s expectations. However,... |
Saudi Cement posts stable 3Q profit22 October 2014, Published under Cement NewsSaudi Cement reported a modest rise in 3Q net profit from SAR229m (US$61m) to SAR232m in the year-ago period, according to a bourse filing. The company attributed the rise to improved efficiencies although quarterly cement sales fell due to declining domestic demand. |
Saudi Arabia: strong annual 3Q gains for Yanbu despite weak start17 October 2014, Published under Cement NewsYanbu Cement reported a 16.4 per cent rise in third-quarter net profit to SAR163m (US$43.4m), driven by lower cost of sales due to increased production and the government's subsidy on imported clinker. The result was well ahead of estimates by Al-Rahji Capital who forecast net profit of SAR131m for the three month period (consensus: SAR149m). Yanbu's robust performance came as a surprise to Al-Rahji analysts given that the cement producer's sales decided by eight per cent YoY in the first ... |
Yanbu Cement 3Q profit up 16.4%, Saudi Arabia15 October 2014, Published under Cement NewsSaudi-based Yanbu Cement net earnings grew by 16.43 per cent YoY in the third quarter of 2014 to SAR163m, but declined by 32.37 per cent compared to 2Q14. The company said the third quarter annual increase was was due to the lower cost of sales due on the back of a boost in production and receipt of a clinker import subsidy. The company attributed the QoQ decline to lower sales due to the Ramadan and Eid al-Fitr holiday. Earnings for the first nine months of the year declined by 7.87 pe... |