Cement News tagged under: Saudi Arabia

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Hail Cement signs loan agreement, Saudi Arabia

14 December 2012, Published under Cement News

Saudi Arabian cement company Hail Cement announced that it has signed a loan agreement with the Saudi Industrial Development Fund on 12 December 2012. The loan amount is SAR300m (US$80m) repayable in 20 half-yearly unequal installments as scheduled and approved against mortgage of all fixed assets. The period of the loan is 12 years, with payment starting 2015. The company is using the loan to fund the development of a new cement factory in the city of Hail, according to a statement ma...

Yanbu Cement records 25.5% YoY rise in quarterly net profit

21 November 2012, Published under Cement News

In the quarter ended 30 September 2012, Yanbu Cement saw total revenues fall 21.4% to SAR339.6m (US$90.5m) and net profits slipped from SAR215.6m to SAR156.7m when compared to the previous quarter. However, on a YoY basis, the company recorded a 149.7% sales revenue increase from SAR272.5m. In terms of net profit, the Saudi Arabian cement producer reported a 25.5% advance from SAR124.9m.

Saudi Cement announces new grinding investment, Saudi Arabia

12 November 2012, Published under Cement News

Saudi cement producer Saudi Cement Company (SCC) is to replace three old cement mills with two new ones. The old mills have a grinding capacity of 360tph, while the new mills – 440tph. The project will raise the company's grinding capacity by some 600,000tpa.

Najran Cement 3Q12 net profit down, Saudi Arabia

29 October 2012, Published under Cement News

Saudi Arabian cement company Najran Cement posted a net profit of SAR36.2m (US$9.7m) for the third quarter of 2012 compared to SAR83.3m in the corresponding period of 2011, representing a fall of 56.55 per cent. However, on a QoQ basis, net profit increased by 36.19 per cent compared to the second quarter of the year. The reason for net profit of third quarter being higher than the second quarter 2012 is that second quarter was subject to bear additional costs for IPO and arrears of royal...

Southern Province driven by higher demand, Saudi Arabia

26 October 2012, Published under Cement News

Saudi Arabian cement producer Southern Province Cement reported a YoY rise in net profit for the the first nine months of 2012 and for the third quarter of the year thanks to an increase in demand for cement on the local market. However on a QoQ basis, third quarter profit fell due to the Ramadan and Eid Al-Fitr holidays. Net profit for the third quarter of 2012 reached SAR200m compared to SAR180m for the same quarter of previous year, an increase of 11.11 per cent. Net profit during the n...

Saudi Cement 3Q12 net profit rises, Saudi Arabia

15 October 2012, Published under Cement News

Saudi Cement Co reported a 7.3 percent increase in quarterly profits on higher domestic sales, Reuters reported. The company said it made US$56m net profit during the third quarter, up from US$51.9m a year ago. The company said local demand for cement and clinker grew in the July-September period. Saudi Arabia is witnessing big developments driven by the government's strategy diversify its economy away from oil. Saudi Cement also said that is operational profit for the period increased by...

Arabian Cement Company fire damage, Saudi Arabia

12 October 2012, Published under Cement News

Arabian Cement Company said that a fire which broke out at its third cement mill at its plant in Rabigh on 20 September was caused by an electrical problem, Construction Week reports. The company said that although clinker production was not impacted by the fire, the temporary closure of one of its five existing mills is likely to lead to an expected temporary drop in sales of around 1000tpd. The fire was brought under control quickly, and there were no casualties, but it could be three-to...

Southern Province Cement 3Q12 up 11.7 per cent, Saudi Arabia

08 October 2012, Published under Cement News

Saudi Southern Province Cement Company said on Sunday its third-quarter net profit rose by 11.7 percent over last year's figure due to higher local demand. The company said net earnings were SAR201m (US$56m) in the three months to Septebmber 30, compared to SAR180m in the third quarter of last year. The results were 23-percent below that of the second quarter, a decline the company attributed to lower sales during the Muslim holy fasting month of Ramadan when activity slows.

Saudi Cement's 1H12 sales surge 45%

05 October 2012, Published under Cement News

Saudi Cement Company (SCC) said that its net profit for the six months through June 2012 rose 45 per cent YoY to SAR615.8m (US$164.2m) from SAR424.6m a year earlier. The company attributed the increase to rising local demand. Operating profit increased to SAR623.4m for the first half of 2012 from SAR440.5m a year ago. Earnings per share (EPS) stood at SAR4.02, up from SAR 2.78.

Eastern Province Cement 1H12 net profit rises 12.5 per cent, Saudi Arabia

04 October 2012, Published under Cement News

Eastern Province Cement Company (EPC) recorded a SAR207m (US$55.2m) net profit for the first half of 2012, up from SAR184m a year ago, an increase of 12.5% YoY. The company attributed the increase to a rise in sales as a result of rising local demand, along with higher investment income and lower sales and distribution costs. Earnings per share (EPS) stood at SAR2.41, compared with SAR2.13. The cement manufacturer registered an operating profit of SAR211m for the first six months of 2012,...