Cement News tagged under: Saudi Arabia
Yamama Cement net profit rises 6.4% YoY16 January 2014, Published under Cement NewsYamama Cement Co of Saudi Arabia said yesterday its net profit for 2013 rose by 6.4 per cent to SAR870m (US$232m), up from SAR818m a year ago. The increase was attributed to a rise in extraordinary gains from the sale of stakes in affiliate companies, Yamama Cement said without giving exact figures. The operating profit declined to SAR829m from SAR863m. |
Saudi Cement 4Q13 profit down 8% YoY15 January 2014, Published under Cement NewsSaudi Cement reported an eight per cent fall in fourth-quarter profit on Tuesday, attributed to lower sales and rising raw material costs. In the three months to the end of December the company posted a net profit of SAR256m (US$68.3m), down from the SAR278m in the same period of the year before, according to a statement to Saudi Arabia’s bourse. Saudi Cement attributed the profit drop to a decrease in sales during the quarter and the high cost of imported clinker. |
Full-year Saudi cement sales rise 4%14 January 2014, Published under Cement NewsCement sales in Saudi Arabia increased by four per cent in 2013 to 55.6Mt compared to 53.5Mt in 2012, a report released by local producer Yamama Cement Co has revealed. However a six per cent YoY decline was recorded in December to 4.79Mt, with all but four cement companies reporting a drop in sales. Increases were seen at Madinah Cement (+40 per cent), Arabian Cement (+37 per cent), Northern Province (+22 per cent) and Safwa Cement (+16 per cent). Meanwhile, Al Jouf and Riyadh Cement reg... |
Najran Cement launches trial operations of WHR plant, Saudi Arabia13 January 2014, Published under Cement NewsNajran Cement on Saturday launched on Saturday trial operations of the first phase of its waste heat recovery (WHR). The trial will take 10 days to complete and the commercial launch is yet to be announced. The WHR project, with a projected power generation capacity of 27.1MW, is being carried out by China's Sinoma Energy Conservation on a turnkey basis. The installatin will help Najran reduce CO2 emissions and HFO consumption, as well as improve energy efficiency. Najran Cement operat... |
Yamama posts preliminary 4Q13, full-year results, Saudi Arabia08 January 2014, Published under Cement NewsYamama Cement posted its preliminary 4Q and FY13 results, with net profit up 2.3 per cent to SAR870m. The results were one per cent below estimates by NBK Capital but in line with a Bloomberg consensus of SAR867m, NBK Capital said in a descent report. "This implies a net profit for 4Q2013 of SAR178m, slightly below our forecast of SAR186m." According to NBK Capital, Yamama published a 4Q13 gross profit (post depreciation) of SAR165m, down 22.5 per cent YoY. Assuming quarterly depreciat... |
Yanbu Cement full-year net profit rises 14.3%07 January 2014, Published under Cement NewsYanbu Cement Co’s net profit rose 14.3 per cent YoY to SAR832m (US$219.4m) in 2013, the company announced in a bourse filing. Operating profit increased to SAR847m from SAR757m in 2012. The company attributed the rise to higher sales without giving exact figures. The Saudi-based producer reported earnings per share of SAR5.23, up from SAR4.57. |
Saudi slowdown set to continue06 January 2014, Published under Cement NewsThe current slowdown being seen in the Saudi Arabian cement market due to labour shortages is set to continue in the short-term, NCB Capital has cautioned. Saudi cement sales declined by 15 per cent in November 2013 YoY following the expulsion of 2m illegal expatriate labourers. The crackdown led to suspension of construction projects and delays in the transportation of cement and as a result, NCB expects the market to be affected over the next 4-6 months Last week, Zamil Al Mugren, chairm... |
Sharp slowdown in Saudi demand30 December 2013, Published under Cement NewsCement demand in Saudi Arabia has considerably slowed through 2013, effectively boosting clinker stocks to a record high level. After recording a high growth rate of some 10 per cent in 2012, expansion of Saudi’s cement market decelerated to around three per cent in 2013, according to Zamil Al Mugren, chairman of Saudi committee for national cement companies, quoted in the daily Aleqtisadiah. He said sales by the country’s 15 cement companies were cut by almost 30 per cent after the gove... |
Kiln to close at Saudi Arabian Cement Co20 December 2013, Published under Cement NewsSaudi cement producer and trader Al Jouf Cement said in a bourse filing it will shut down its production Kiln line 6 for scheduled maintenance from 21 December until 7 January. The cement company said that the stoppage will not impact its ability to meet contractual obligations to clients, adding it will announce its cost later. |
Al Jouf begins trial production of new line, Saudi Arabia16 December 2013, Published under Cement NewsAl Jouf Cement has launched trial operations of its second production line, the Saudi-based cement producer said in a bourse statement. The new kiln line has a clinker capacity of 5000tpd. In late October, the company had signed an agreement with Al Rajhi Bank for a SAR400m (US$106.7m) loan to partially finance the construction of the new line, to be repaid by June 2019. |