Cement News tagged under: Saudi Arabia

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Saudi orders cement imports to meet shortages

17 April 2013, Published under Cement News

King Abdullah of Saudi Arabia has ordered 10Mt of cement to be imported into the kingdom to meet cement shortages and the construction of more cement plants over the medium-term is also being encouraged. Citing trade minister Tawfiq al-Rabiah, the Saudi Press Agency, reports that King Abdullah wants three to four cement plants to be built over the next three years and has granted SAR3bn towards the scheme. The Saudi cement industry has quickly grown to support high consumption and i...

Saudi Cement net profit rises on improved efficiency

16 April 2013, Published under Cement News

Saudi Cement Company said net profit in the first quarter of 2013 rose 4.5 per cent YoY, attributed to an increase in output thanks to improved operating efficiency. Net profit for the three months ending 31 March 2013 reached SAR340.3m (US$90.6m), compared to SAR325.6m posted in the same period of last year. The increase was also a 22.5 per cent rise on the SR277.7m recorded in the previous quarter, the company said in a filing to the Saudi bourse. The QoQ advance was attributed to in...

Yamama Cement 3Q net profit remains flat YoY

10 April 2013, Published under Cement News

Saudi cement producer Yamama Cement Company said yesterday that according to preliminary results, its net profit stood at SAR277m (US$73.9m) for the first quarter of 2013, almost unchanged from SAR278m a year ago due to lower prices. The earnings per share remained stable at SAR1.37. Gross profit declined to SAR293m from SAR300m.

Yanbu Cement 1Q13 net profit surges on expansion, Saudi Arabia

09 April 2013, Published under Cement News

Yanbu Cement announced that, according to preliminary figures, its net profit for the first quarter of 2013 surged by 70 per cent YoY, on the back of increased capacity. Net profit for the three months to the end of March 2013 rose to SAR247m (US$65.9m) according to the preliminary data. Earnings per share stood at SAR1.57, up from SAR0.92. "The increase in the current quarter profit compare with the same quarter for the previous year due to increase in sales quantity due to start Line...

Northern Region Cement halts production, Saudi Arabia

25 March 2013, Published under Cement News

Saudi Arabian cement producer Northern Region Cement (NRCC) has had to halt operations following the ordered closure of the road leading to the plant which is preventing truck access. The road has been closed due to NRCC’s failure to construct an upper bridge road connecting the plant with the international highway, according to reports by Al-Eqtisadiah. Sources told the daily newspaper that NRCC was required to construct the bridge road by authorities to safeguard others driving in the a...

Yamama Saudi Cement to upgrade Riyadh works

22 March 2013, Published under Cement News

Yamama Saudi Cement Company is to carrying out the rehabilitation of an existing cement plant in Riyadh. This project is in Saudi Arabia. It aims at replacing five old clinker lines to increase the production capacity to 10,000tpd. The scheme is currently under planning and no expected schedule has been disclosed. A feasibility study has already been completed.

Eastern Province Cement announces new grinding project, Saudi Arabia

18 February 2013, Published under Cement News

Saudi Arabia-based Eastern Province Cement Co (EAPCC) has said it will install a new 150tph grinding mill at a cost of SAR82m (US$21.m). The company said on Saturday it has agreed a deal with a contractor for the new project including engineering work and equipment supply. Completion is expected in 14 months. The name of the contractor currently remains undisclosed. EAPCC said the mill project will be self financed and should start contributing to the company’s results by the second qu...

Saudi Cement net profit rises 32.3% in 2012

14 February 2013, Published under Cement News

Saudi Cement Company said today its net profit for 2012 rose 32.3 per cent YoY to SAR1.1bn (US$293m) thanks to higher demand. Earnings per share stood at SAR7.2, up from SAR5.43 a year earlier. The operating profit rose to SAR1.14bn in the 12 months to December 2012 from SAR865.1m in 2011.

Northern Region Cement stocks soar on day one of trading, Saudi Arabia

06 February 2013, Published under Cement News

Saudi-Arabia based cement producer Northern Region Cement tripled on its first day of trading in Riyadh, Bloomberg reports. The stock soared to SAR30 at the close in the Saudi capital from the initial public offering of SAR10 each, according to data compiled by Bloomberg. About 234 million shares were traded, comprising more than half of the volume traded on the benchmark Tadawul All Share Index yesterday. Northern Region is the 13th cement company to sell shares in the kingdom after N...

Yanbu Cement full-year net profit rises 36% YoY

28 January 2013, Published under Cement News

Saudi cement producer Yanbu Cement Co (YCC) reported a surge in full-year net profit thanks to increased demand and a new production line as top capacity players benefit from the country's boom period. The company's net profit rose 36 per cent YoY in 2012 to SAR720.5m (US$192.1m). Earnings per share (EPS) stood at SAR 6.86, up from SAR 5.04. Local cement producers have been riding high on government projects which puts emphasis on improving education, social services and basic infrastruc...