Cement News tagged under: Saudi Arabia
Al Jouf Cement reports 41% YoY increase in revenue14 August 2023, Published under Cement NewsAl Jouf Cement has reported revenue of SAR138.23m in the first half of 2023, marking a 40.6 per cent increase compared to the same period a year earlier. Net profit over the same period improved from SAR1.8m to SAR43.6m, driven by an increase in volumes and average selling prices. Earnings per share advanced from SAR0.02 in the 1H22 to SAR0.40 in the corresponding period the following year. In the second quarter of 2023, revenue stood at SAR67.96m, up 37.3 per cent YoY from the SAR49.48m... |
Hoffmann Green to build four new units in Saudi Arabia22 June 2023, Published under Cement NewsHoffmann Green Cement Technologies has agreed to collaborate with Shurfah Holding to build four Hoffmann units in Saudi Arabia. As part of Saudi Vision 2030, Shurfah Holding and Hoffmann Green have been in talks for over a year with the aim of developing low-carbon Smart Cities. In 2022 the two companies signed a preliminary letter of intent to a test phase which enabled Hoffmann clinker-free cement to be experimented in Saudi Arabia and the production process to be assessed locally. Follo... |
KHD host Saudi cement sector at Vision 2030 Symposium15 June 2023, Published under Cement NewsKHD hosted executives of the Saudi cement sector at the one-day KHD Vision 2030 Symposium. Taking place at the Hyatt Olaya Hotel in Riyadh, attendees discussed matters with KHD executives, sales representatives as well as experts from the company’s pyroprocessing and grinding departments. Representatives from KHD’s EPC partner, AVIC International Beijing, and knowledge partner A3&Co ® , also spoke, while two panel discussions provided the opportunity to hear insight and feedback from the cem... |
Southern Province places contract for two new lines at Jazan22 May 2023, Published under Cement NewsSaudi Arabia-based Southern Province Cement Co has placed an order with Sinoma International Engineering Co for two new 5000tpd production lines at its Jazan cement plant. Line 3 will go under construction first and is due for completion within 18 months. Infrastructure for a second 5000tpd line (Line 4) is also being put in place, with that line expected to complete within 24 months. The US$330m project is being entirely funded by a local bank, reports Mist News. The Jazan plant cur... |
Arabian Cement reports 17% drop in 1Q profit16 May 2023, Published under Cement NewsArabian Cement Co posted a net profit after zakat and tax of SAR49.2m (US$13.1m) in the 1Q23, down 17.4 per YoY from SAR41.9m. It was 40.2 per cent higher QoQ when compared with SAR35.1m in the 4Q22. The company’s sales declined 7.4 per cent YoY to SAR240.1m in the 1Q23 when compared with SAR259.3m in the equivalent period of the previous year, according to Mubasher. |
Hail Cement returns to profit in 1Q2315 May 2023, Published under Cement NewsSaudi Arabian cement producer Hail Cement Co saw revenue decline by 9.9 per cent YoY to SAR61.85m (US$16.5m) in January-March 2023 from SAR68.61m. The company posted a profit of SAR18.51m in the 1Q23, an improved results when compared with net losses after zakat and tax of SAR-6.89m in the year-ago period. The company attributed the increased profitability to a reduction in costs of sales and zakat expenses. The net profit after zakat and tax in the 1Q23 fell by 17.1 per cent QoQ to SA... |
Saudi cement companies fined for price manipulation14 April 2023, Published under Cement NewsSaudi Arabia’s General Authority for Competition (GAC) has fined 14 cement companies a total of SAR140m (US$37.33m) for price manipulation activities. Each company has been found guilty of trying to manipulate Saudi’s cement market with price increases, resulting in a SAR10m fine each. According to the Saudi Gazette, the GAC received numerous complaints that several cement producers were collaborating to raise cement prices and share the local market between themselves. After collecti... |
Southern Province Cement makes progress on new 10,000tpd line29 March 2023, Published under Cement NewsSaudi-based Southern Province Cement Company (SPCC) has reportedly completed its study into the construction of a new 10,000tpd production line at its Jazan plant, and work was now underway to draft and review the EPC contract. According to Zawya, the new line will replace the existing line at the plant, with the cement producer saying in December 2022 that it hoped to sign the contract for the new line in the opening quarter of 2023. SPCC currently runs three plants in Bisha , Ja... |
Tabuk Cement reports 30% YoY increase in revenue in 202224 March 2023, Published under Cement NewsSaudi Arabia’s Tabuk Cement Co has reported revenue of SAR297.55m (US$79.35m) in 2022, up 30.2 per cent from the SAR228.53m seen in 2021. Over the same period, net profit after zakat and tax advanced 18 per cent from SAR17.76m to SAR20.97m. Meanwhile, earnings per share rose from SAR0.20 to SAR0.23, reports Zawya. In the first nine months of 2022, revenue was up 20.6 per cent YoY at SAR210.11m, while net profit fell 80.71 per cent YoY to SAR3.36m. |
Umm Al Qura sees net profit plunge 72% YoY in 202223 March 2023, Published under Cement NewsSaudi Arabia-based Umm Al Qura Cement Company has reported revenue of SAR221.21m (US$58.99m) in 2022, down 20.66 per cent from the SAR278.83m seen in the previous year. Net profit after zakat and tax over the same period fell 71.77 per cent to SAR22.98m, reports Zawya. Earnings per share in 2022 came in at SAR0.42, compared to SAR1.48 in 2021. In the first nine months of 2022, the company saw revenue contract by 15.13 per cent YoY to SAR179.29m, while net profit after zakat and tax was do... |