Cement News tagged under: Saudi Arabia

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Saudi cement producers see 1Q rise in net profit

12 June 2012, Published under Cement News

Two leading Saudi Arabian cement producers have reported solid gains in the first quarter of 2012 driven by higher sales volumes as a result of rising local demand. Saudi Cement Company (SCC) said that its net profit for the three months through March 2012 surged 54.4% YoY to SAR325.6m (US$86.8m) from SAR210.8m a year earlier. Meanwhile, Eastern Province Cement Company registered a SAR104m (US$27.7m) net profit for the first quarter of 2012, an increase from the SAR83m recorded a year ...

Saudi Arabia cement capacity seen reaching 66Mta by 2015

11 June 2012, Published under Cement News

Saudi Arabia's cement production capacity is expected to reach over 66Mta by 2015 from 47Mt this year, a report from Al Rajhi Capital said. S audi Arabia’s development plan is underpinning construction growth as building activity moved up a notch alongside existing projects such as King Abdullah and Jazan Economic Cities and hence, demand for cement increased accordingly. In 1Q12, national cement consumption reached 14.3Mt, up 16 per cent YoY. "Construction activities have accelerated i...

Arabian Cement Co first-quarter net profit rises 26%

06 June 2012, Published under Cement News

Saudi cement producer Arabian Cement Company (ACC) said its net profit for the first quarter of 2012 rose by 26% year-on-year to SAR146.1m (US$88.7m), boosted by growing sales. Operating profit increased by 24.8% to SAR 151.7 million in January-March 2012. The company’s management board has decided to recommend to shareholders a cash dividend of SAR1 (US$0.267) per share for the first half of 2012. If approved, the dividend will be paid to shareholders registered at the close of business...

Qassim Cement net profit rises, Saudi Arabia

04 June 2012, Published under Cement News

Saudi cement producer Qassim Cement Co (QCC) posted a SAR158.4m (US$42.2m) net profit for the first quarter of 2012 up from SAR147.2m a year ago. The company attributed the increase to a rise in sales but did not provide any exact figures.

Southern Province Cements signs contract with Sinoma for Line No 3

31 May 2012, Published under Cement News

Southern Province Cement (SPC) and Chinese engineering company Sinoma have signed a SAR707m (US$188m) contract for the installation of a third new line at SPC’s plant in Tuhama. In a filing to the Saudi bourse, the cement producer said the contract will be executed over 24 months and once completed, the new line will have a capacity of 5000tpd. SPC said it will use its own funds to finance the project. In early March, the company announced that its second production line at Tuhama sta...

Hail Cement secures license to exploit raw materials, Saudi Arabia

30 May 2012, Published under Cement News

Saudi Arabia's Hail Cement Co said Tuesday it has secured a license from the Ministry of Petroleum and Mineral Resources to exploit raw limestone and clay in the Green Well area.

GCC cement sector profits increase – report

25 May 2012, Published under Cement News

GCC cement sector profits increased 21.2 per cent in 1Q12 and net profits increased from US$359.5m in 1Q11 to US$435.6m in 1Q12, according to a report by Global Investment House (GIH). However, net margins witnessed a fall of 90.4 bps. Revenue, on the other hand, increased 24.3 per cent to reach US$1.26bn, the report said. Gross margins witnessed a 233.6bps increase in Q1, 2012 to reach 43.7 percent as compared to 41.4 percent, which was due to increase in selling price along with drop...

Yamama Cement net profit rises 46%, Saudi Arabia

25 May 2012, Published under Cement News

Yamama Cement Company recorded a 46% YoY surge in its net profit to SAR278m (US$74.1m) for the first quarter of 2012, up from SAR180m a year ago. The strong increase was attributed to a rise in sales, Yamama Cement. Gross profit rose to SAR300m from SAR196m.

Tabuk Cement to add production line, Saudi Arabia

22 May 2012, Published under Cement News

Tabuk Cement Company’s management board has approved an expansion project for the installation of a second 5000tpd line. The project also includes the construction of power generation unit to meet the needs of the new production line, SeeNews Middle East & Africa reports. In mid-April, TCC said it registered an increase in net profit to SAR49.2m (US$13.1m) for the first quarter of 2012 from SAR41.2m, as a result of higher sales.

Saudi Cement delays kiln starts until 3Q12

16 May 2012, Published under Cement News

Further to Saudi Cement Company announcement in February 2012 regarding re-operating of Kiln No. 6 with 4000tpd of clinker capacity, and also the re-operating of three old kilns with total capacity of 1325tpd during the month of May 2012, the company has announced that due to technical reasons re-operating of all four kilns will take place during the third quarter of 2012. (Source: Mist News)