Cement News tagged under: Saudi Arabia

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Saudi sales slowdown continues through Jan

14 February 2014, Published under Cement News

The slowdown in Saudi Arabian cement sales continued in January 2014, falling short of analysts expectations. Cement deliveries amounted to 4.62Mt in the first month of the year, compared to 4.74Mt the month before, a recent report by NBK Capital has said. Deliveries in November, and to a lesser extent, December 2013 were effected by the expulsion of 2m illegal expatriate labourers by the government which led to the suspension of construction projects and delays in the transportation o...

Saudi approves licence for new Riyadh plant

11 February 2014, Published under Cement News

Saudi Arabia's minister of commerce and industry, Dr Tawfiq bin Fawzan Al-Rabiah, approved the licence for the establishment of Baha Cement Co, in Riyadh, with a share capital of US$106.7m (SAR400m). According to the Saudi Press Agency, 50 per cent of the company's shares will be held by the project's partners, and the remaining 50 per cent will be offered to the Saudi public. The Minister's approval came within the framework of the state's policy to enhance economic activities in vario...

Saudi Cement recommends SAR3.5/share for 2H13

10 February 2014, Published under Cement News

Saudi Cement Co said that its board had recommended a cash dividend of SAR3.5/share (US$0.93) for the second half of 2013. This is the same as the dividend paid in the corresponding period of 2012. The company reported an eight per cent fall in fourth quarter profit, which the company blamed on lower sales and rising raw material costs.

Cemtech Middle East & Africa underway

04 February 2014, Published under Cement News

Cemtech Middle East & Africa 2014, the leading international cement conference and exhibition series, has opened in Dubai in front of an audience of over 270 senior industry delegates from 35 countries, including Guest of Honour, His Excellency Sheikh Yaser Al Qasemi, General Manager of Union Cement Company, Ras Al Khaimah, and Chairman of the Cement Producers’ Association of the UAE. Thomas Armstrong, Cemtech organiser, welcomes over 270 industry delegates from across the Middle Eas...

Al Jouf reports 75% drop in quarterly net profit, Saudi Arabia

28 January 2014, Published under Cement News

Al Jouf Cement posted weak fourth-quarterly financial results, with earnings declining by 74.59 per cent YoY and 16 per cent QoQ  to SAR6.1m (US$1.6m). The results missed Al-Rajhi Capital estimates of SAR22m and consensus forecast of SAR20m. Al-Rajhi believes that the company’s weak performance was a result of a decline in the value and volume of sales due to sluggish cement demand during the quarter following government’s initiatives to expel 2m illegal expatriate labourers which led to t...

Phase 2 of Najran WHR trial operations to continue to end-April

22 January 2014, Published under Cement News

Najran Cement has said trial operations of a second phase of its waste heat recovery plant are expected to continue to the end of April, the Saudi-based producer said in a bourse statement. The company launched phase 1 of trial operations at the plant on 11 January which will take 10 days to complete. Commercial operations are yet to be announced. The 27.1MW project is being carried out by China’s Sinoma Energy Conservation on a turnkey basis.  The US$44.9m investment will help Najran to r...

ACC reports full-year loss, Saudi Arabia

21 January 2014, Published under Cement News

Saudi producer Arabian Cement Company (ACC) reported SAR190m (US$50.7m) in net earnings in FY13, a 50.96 per cent decline compared with SAR387.4 min FY12. In the fourth quarter of 2013, ACC reported a loss of SAR108.7m against a loss of SAR82.3m in the corresponding period of the previous year. ACC is the the fifth-largest producer in Saudi Arabia with a capacity of 3.84Mta. The company had planned to add a new 7000tpd line (2.3Mta) to increase its existing capacity by 41 per cent. Howeve...

Tabuk full-year net earnings decline, Saudi Arabia

20 January 2014, Published under Cement News

Tabuk Cement' FY13 net earnings decreased 5.86 per cent in 2013 to SAR173.4m (US$46m) from SAR184.2m the year before. The Saudi-based producer said net earnings in the fourth quarter of 2013 also fell by 16.26 per cent YoY to SAR38.1m (US$10.2m) compared to SAR45.5m in the comparative period of 2012.  

Southern Province posts flat full-year profit

17 January 2014, Published under Cement News

Southern Province Cement posted a SAR1.006bn (US$268m) net profit in 2013, almost flat from SAR1bn the year before. Earnings per share stood at SAR1.013. Operating profit for the Kingdom’s largest cement firm by market value, fell from SAR1.008bn in 2012 to SAR973m last year.

Yamama Cement net profit rises 6.4% YoY

16 January 2014, Published under Cement News

Yamama 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.