Cement News tagged under: Saudi Cement

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Saudi Cement to retire three kiln lines

18 March 2014, Published under Cement News

Saudi Cement Co (SCC) is to permanently cease of operations of three kiln lines Hofuf plant due to their age, higher operating costs and lower environmental efficiency. The company had restarted Lines 1, 2 and 3 at the Hofuf works at the end of last year due to rising demand and market pressures at the time. However, the decision has now been made to close these kilns and remove them from the plant site. The three kilns have a combined clinker capacity of 1325tpd.

Saudi Cement 4Q13 profit down 8% YoY

15 January 2014, Published under Cement News

Saudi 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.

Saudi Cement reports 9.6% rise in 3Q net profit

23 October 2013, Published under Cement News

Saudi Cement Co reported a 9.6 per cent rise in third-quarter net profit on the back of higher domestic sales. The company made SAR229m (US$61.1m) in the July-September quarter compared to SAR209m in the same period of last year, it said in a bourse filing. With around 7Mta of capacity, Saudi Cement operates two plants – Hofuf and Ain Dar. In late 2012 it reopened three of its kiln lines at its Hofuf plant, boosting capacity by 1325tpd. This was followed in May this year by an announcement...

Saudi cement market records further volume expansion

30 September 2013, Published under Cement News

Saudi cement companies saw profits rise 8.2 per cent as cement demand in the kingdom continued to expand on the back of large projects, said Global Research in its June 2013 report. Cement demand in the 1Q13 stood at 15.5Mt compared to 14Mt in the same period last year. Saudi Cement and Southern Province Cement lead the sales volume rankings, resulting in market shares of 15.7 and 13 per cent, respectively. Cement output rose 16.3 per cent to 13.1Mt while clinker production increased 9...

Saudi Cement reports 5.9% second-quarter rise

16 July 2013, Published under Cement News

Saudi Cement Co reported a 5.9 per cent increase in second-quarter net profit on Monday, thanks to increased demand.   The company posted a second-quarter net profit of SAR307m (US$81.7m) compared to SAR290m in the same period in 2012. Net profit for the first six months of 2013 was SAR647m, up five per cent from the previous year.

Saudi Cement 3Q12 net profit rises, Saudi Arabia

15 October 2012, Published under Cement News

Saudi Cement Co reported a 7.3 percent increase in quarterly profits on higher domestic sales, Reuters reported. The company said it made US$56m net profit during the third quarter, up from US$51.9m a year ago. The company said local demand for cement and clinker grew in the July-September period. Saudi Arabia is witnessing big developments driven by the government's strategy diversify its economy away from oil. Saudi Cement also said that is operational profit for the period increased by...

Saudi Cement's 1H12 sales surge 45%

05 October 2012, Published under Cement News

Saudi Cement Company (SCC) said that its net profit for the six months through June 2012 rose 45 per cent YoY to SAR615.8m (US$164.2m) from SAR424.6m a year earlier. The company attributed the increase to rising local demand. Operating profit increased to SAR623.4m for the first half of 2012 from SAR440.5m a year ago. Earnings per share (EPS) stood at SAR4.02, up from SAR 2.78.

Saudi Cement net profit rises 26 per cent, Saudi Arabia

16 July 2012, Published under Cement News

Saudi Cement posted a net profit of SAR290.2m (US$77.4m) for the second quarter, representing a rise of 36 per cent from a year earlier. The company attributed the rise to growing demand for cement and clinker as the domestic construction sector is boosted by increased government spending.

Saudi Cement Co 1Q net rises, Saudi Arabia

16 April 2012, Published under Cement News

Saudi Cement Co posted a 53.4 per cent rise in first-quarter net profit of SAR325.6m (US$86.8m) in the period, compared with SAR210.8m a year earlier, the company said in a statement to the Saudi bourse.

Saudi Arabian demand seen rising 10.8% in 2012

20 March 2012, Published under Cement News

Saudi Arabian cement consumption is expected to see a double-digit advance in 2012 thanks to increased levels of government spending, and while fuel shortage remains the key supply constraint for the domestic cement sector, the demand outlook remains strong, says a new report by NCB Capital. The main drivers for medium-term demand growth are government spending on infrastructure projects and housing, the research house notes. The economics team at NCB estimate 2012 government spending to ...