Cement News tagged under: Saudi Arabia

RSS feed

Umm Al-Qura Cement appoints new CEO

25 August 2021, Published under Cement News

Saudi Arabia's Umm Al-Qura Cement Co has announced the appointment of Majid Tariq Salah Gharbawi as CEO, effective from 20 October.   Mr Gharbawi has more than 17 years of experience in the financial and banking sector. His professional career includes many administrative and leadership positions within private banks. He holds a Bachelor of Science in Business Administration, majoring in financial management, from the University of Southern California, in addition to many specialised cer...

Al Jouf Cement sees profit advance 25% YoY

20 August 2021, Published under Cement News

Al Jouf Cement has announced a 4.9 per cent YoY decline in revenue to SAR53.74m (US$14.34m) in the six months ended 30 June 2021, compared to SAR56.49m in the 1H20. However, the company's profit advanced 24.9 per cent to SAR19.68m from SAR15.75m.  

Saudi Cement buys 37% share of United Cement

17 August 2021, Published under Cement News

Saudi Cement Co has acquired a 37 per cent stake in United Cement Industrial Co (UCIC) for SAR28m (US$330,426), as announced in Saudi Cement’s 2Q21 company report. Accordingly, Saudi Cement increased its stake in the subsidiary from 63 to 100 per cent. The company purchased items of property and equipment for SAR24.94m in the 1H21, while additions to capital work in progress amounted to SAR9.35m. UCIC, which was established in 2013, operates a 2Mta integrated cement plant ...

Qassim Cement announces 10,000tpd new line

13 August 2021, Published under Cement News

Qassim Cement Co has announced a new 10,000tpd production line at its plant in Buraydah, Saudi Arabia, that will replace some of the current production lines. The project execution is expected to start in the 1H22, the cement producer reported. The cost of the project will be announced after completing studies. The project's financing options, and expected completion date, financial impact as well as production date will be announced in due course, the company added.

Saudi Cement sees 14% rise in profit

10 August 2021, Published under Cement News

Saudi Cement Co has posted a 14.1 per cent YoY rise in net profit to SAR86.4m (US$23.04m) in the quarter ending 30 June 2021, compared to SAR75.7m in the year-ago period. Revenue also climbed 17 per cent YoY to SAR348.1m from SAR297.5m in the 2Q20.

Northern Region Cement sees 27% rise in net profit

06 August 2021, Published under Cement News

Saudi Arabia’s Northern Region Cement has seen its net profit rise 26.9 per cent YoY to SAR52.9m (US$14.11m) in the January-July period of 2021, compared with SAR41.65m in the first half of the previous year. However, sales decreased 1.6 per cent YoY to SAR307.19m from SAR312.2m in the 1H20.

Eastern Province Cement records 5% rise in profit

05 August 2021, Published under Cement News

Saudi Arabia’s Eastern Province Cement has announced a five per cent increase in net profit to SAR122m (US$32.53m) in the first half of 2021, against SAR116m in the 1H20. Sales also rose 12.8 per cent YoY to SAR429m from SAR380m. In the second quarter of the year, profits advanced 106 per cent YoY to SAR62m while revenue climbed 45 per cent to SAR212m.

City Cement sees 31% rise in profit

04 August 2021, Published under Cement News

Saudi Arabia’s City Cement has posted a net profit after tax of SAR49.7m (US$13.25m) in the second quarter of the year, up 30.8 per cent YoY on SAR38m in the year-ago period. Sales also climbed 10 per cent YoY to SAR119.8m from SAR108.9m in the 2Q20.

Umm Al Qura Cement sees 17% decline in profit

03 August 2021, Published under Cement News

Saudi Arabia’s Umm Al Qura Cement has seen a 16.8 per cent decline in net profit to SAR49.45m (US$13.19m) in the first half of 2021, compared to SAR59.48m in the year-ago period. Sales also decreased 2.9 per cent YoY to SAR154.3m from SAR159.01m in the 1H20. The company also announced the resignation of its CEO, Fawaz bin Saleh Al-Mutairi, which will take effect from 1 September 2021.

Yamama Cement achieved a net profit of SAR132.6m in 1H21

29 July 2021, Published under Cement News

Saudi Arabia-based Yamama Cement recorded a net profit after zakat and tax of SAR132.6m (US$35.3m) in the 1H21, a 24 per cent fall from SAR174.8m in the same period a year ago. The company attributed the drop in net profit to lower sales volumes.  Yamama reported a net profit after zakat and tax of SAR 77.7m in 2Q21, a 53 per cent increase from SAR 50.8m in the year-ago period. The cement producer cited higher sales, and lower provisions for zakat as well as general and administra...