Cement News tagged under: Saudi Arabia

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Saudi August dispatches rise 29.8% YoY

18 September 2014, Published under Cement News

Saudi cement dispatches for August 2014 climbed to 3.96Mt, an increase of 29.8 per cent YoY and 47.8 per cent MoM, AlJazira Capital has stated in a report citing the data issued by Yamamah Cement Co. The YoY increase in dispatches is primarily due to the fact that part of Ramadan and the holiday season fell in August 2013. The significant MoM growth is attributed ti cement demand recovering after Ramadan. On a YoY basis, Arabian Cement and Najran Cement showed a strong rises in dispatches ...

Saudi imports 3.1Mt in past nine months

21 August 2014, Published under Cement News

Saudi Arabia imported some 3.1Mt of cement in the past nine months valued at SAR750m, according to a financial report quoting data released by Customs Department. The rise is attributed to the increased pace of project implementation and heightened government spending on infrastructure, a source in the national committee of cement companies at the Council of Saudi Chambers (CSC) told Al-Eqtisadiah daily.

Saudi listed firms see first-half net profits decline

06 August 2014, Published under Cement News

Profits of listed Saudi cement companies dropped by 6.6 per cent to SAR3.40bn (US$906m) compared with SAR3.64bn in the corresponding period last year, a report, filed by Al-Riyadh daily has revealed. In the second quarter, profits declined by 2.7 per cent to SAR1.77bn in the second quarter of 2014 Sales reached SAR3.66bn in the three months to the end of June 2014, while the cost of sales stood at SAR1.72bn, bringing revenues to nearly SAR1.94bn.

Al-Jouf Cement returns to quarterly profit

23 July 2014, Published under Cement News

Al Jouf Cement has posted a 16.4 per cent rise in second-quarter net profit following five consecutive quarterly declines. A gradual improvement in shipments for the three-month period is also leading the Saudi-based company to anticipate a full recovery by year-end. During the second quarter of the year, the company posted a net profit of SAR16.1m. The results were slightly above analyst consensus estimates of SAR13.5m. Cement dispatches rose 1.6 per cent YoY to 368,000t showing sign...

Umm Al-Qura signs financing agreement, Saudi Arabia

22 July 2014, Published under Cement News

Umm Al-Qura Cement Company announced the signing of an Islamic financing agreement with The Saudi British Bank (SABB) on 22 July for SAR 618.874m. The financing has a tenor of three years and is for specific project financing needs.

Arabian Cement second-quarter exceeds analysts’ forecasts

21 July 2014, Published under Cement News

Saudi-based Arabian Cement reported a 60.2 per cent rise in second-quarter net profit to SAR199.8m (US$53.3m), beating analysts' forecasts. Al-Rajhi Capital noted that while most cement companies reported weak sales volumes this quarter, Arabian Cement bucked the trend and reported strong sales dispatches (+44 per cent YoY) as the company was relatively unaffected by the broader sector issues. Arabian Cement's performance to the three months to the end of June 2014 beat Al-Rahji Capita...

Saudi: Qassim’s 2Q14 net profit slips, sales down 10%

16 July 2014, Published under Cement News

Qassim Cement posted a 1.5 per cent decline in net profit for the second quarter of 2014 to SAR161.1m (US$43m). Sales volumes dropped 10 per cent YoY during the three months to the end of June to 1.07Mt on the back of sluggish construction sector activity. Operating profits came in at SAR163.6m. Analysts at Al Rahji Capital have stated that Qassim’s high utilisation rates and its inability to ramp-up capacity have led it to believe that there is “limited upside potential” from current le...

Saudi Cement posts second-quarter net profit drop

15 July 2014, Published under Cement News

Saudi Cement posted a 6.2 per cent drop in second-quarter net profit on Monday as declining sales impact revenue. The kingdom’s largest listed cement producer by market value made a net profit of SAR288m (US$76.8m) in the three months to the end of June 2014, compared to SAR307m in the comparative period of last year.

Yamama Cement sees June deliveries decline

11 July 2014, Published under Cement News

Yamama Cement's June domestic deliveries reached 484,000t, a 5.5 per cent decline MoM and a 17.7 per cent YoY fall, according to NBK Capital. However, this figure was in line with NBK Capital's 1.5Mt estimate of the 2Q14 sales volume. Yamama Cement’s primary area of activity in Riyadh is still experiencing a slowdown in construction activity, on the back of the labour correction campaigns that were introduced by the Saudi government. The research house expects to start seeing  improvement ...

Najran launches waste heat recovery operations

01 July 2014, Published under Cement News

Saudi-based producer Najran Cement said launched operations of its waste heat recovery project yesterday. The company successfully completed the performance guarantee tests stated in its contract with Sinoma of China, according to local press reports.