Cement News tagged under: Southern Province Cement

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Southern Province Cement names new CEO

13 July 2020, Published under Cement News

Saudi Arabia’s Southern Province Cement has named Aqeel Futis Kadasa as its new CEO, effective from 12 July 2020. The appointment follows the resignation of Safar Mohammad Dhufayer on 11 July. Mr Kadasa began working for Yamama Cement and then the Saudi Electricity Company before joining Southern Province in 1997, where he later became deputy CEO for industrial services.

Southern Province Cement Co sees net profit surge 137%

11 March 2020, Published under Cement News

Saudi Arabia’s Southern Province Cement Co has seen its net profit for 2019 surge 137.4 per cent YoY to SAR463m (US$123.47m) from SAR195m. The considerable advance has been attributed to a 46.4 per cent increase in sales, amongst other factors. Company revenue also climbed 46.4 per cent to SAR1.3bn from SAR888m in 2018.

Saudi Arabia records 22% production increase in December

09 January 2020, Published under Cement News

Saudi Arabian cement sales rose 24.2 per cent YoY in terms of volume in December 2019, while total production increased 21.7 per cent to 4.7Mt from 3.86Mt, according to Mubasher. Cement inventories in the country declined 0.6 per cent YoY to 1.18Mt in the last month of 2019. Southern Province Cement Co recorded the highest volume of sales during the month, totalling around 708,000t, followed by Saudi Cement Co with 586,000t.

Southern Province Cement to sell 20,000t of cement to Yemen

05 December 2018, Published under Cement News

Southern Province Cement has signed an agreement to export 20,000t of Portland cement to Yemen. The contract expects to deliver the volume over a three-month period, starting from the date of the first shipment, according to Reuters.

Southern Province Cement 1Q profit falls 3%

08 May 2018, Published under Cement News

Saudi Arabian cement producer Southern Province Cement Co has reported a 2.9 per cent YoY decrease in net profits in the 1Q18. Net profits fell to SAR102m (US$27.2m) in the three-month period ended March 2018, compared to SAR105m in 1Q17, according to the company’s statement to the Saudi Stock Exchange. Southern Province has attributed the drop to a decrease in sales due to lower demand and a lower selling price. Total sales contracted 9.6 per cent to SAR274m from SAR303m in 1Q17.

Red Sea City plan raises Saudi cement firms' share prices

30 October 2017, Published under Cement News

Saudi Arabia’s plan to build an entirely new US$500bn city, Neom, by the Red Sea has breathed life into the country’s beaten-down cement sector. Shares of companies such as Saudi Cement Co, Southern Province Cement Co and Yanbu Cement Co, the country’s biggest by market value, have all risen since the kingdom announced the Neom plan earlier this week, reports Arabian Business. The announcement "is surely a long-term positive for the cement sector - a sector which has been reeling...

Southern Province Cement sees two-third drop in 3Q profit

25 October 2017, Published under Cement News

Saudi cement producer Southern Province Cement saw its third-quarter sales decrease 43.2 per cent to SAR216m from SAR380m in the 3Q16. The company’s net profit declined by 67.2 per cent to SAR57m from SAR174m in the same period a year ago.

Saudi Cement producers see sales fall 25% in February

15 March 2017, Published under Cement News

Saudi cement producers saw sales fall by 24.9 per cent in February 2017. Cement companies sold 4.09Mt of cement in the second month of the year, down from 5.44Mt in February 2016. Output also decreased by 26 per cent YoY from 5.47Mt to 4.04Mt during the same period while inventories increased to 1.07Mt, up 18.2 per cent YoY from 0.906Mt in February 2016. Yanbu Cement topped cement sales as it reported a volume of 0.474Mt but nevertheless experienced a 21.3 per cent YoY drop from 0.602M...

Saudi Arabia: Southern Province 3Q16 profit drops 14%

18 October 2016, Published under Cement News

Southern Province Cement posted a 14.4 per cent YoY decrease in profits from SAR202m (US$53.9m) in 3Q15 to SAR173m in 3Q16. Lower demand and higher depreciation were cited as the key reasons for the decline. In the first nine months of 2016, the cement producer registered net profits of SAR724m, down from SAR739m for the same period of the previous year.

Saudi Arabia: cement firms come under pressure

09 August 2016, Published under Cement News

Saudi Arabia’s cement activities continue to come under pressure as falling sales volume and profitability remain subdued. Companies’ operational performance was impacted due to lower than estimated average realised price on the back of stiff competition, especially in the central region in 2Q16, coupled with the impact of lower fuel subsidy, reports Al Rajhi Capital. Saudi Cement and Southern Province Cement were the top performers in 2Q16. Saudi Cement revenue was up 11 per cent YoY, whi...