Cement News tagged under: UAE

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UCC first-half net profit surges, UAE

28 July 2014, Published under Cement News

Union Cement Company (UCC) net profit surged 181 per cent to AED59.4m (US$988,165) in the first half of 2014 compared to AED21.15m in 1H13. In its statement to the Abu Dhabi Securities Exchange UCC said its second quarter results showed a net profit of AED41.25m versus AED15.5m during the same period of last year.

RAK Cement swings to first-half net profit, UAE

22 July 2014, Published under Cement News

Preliminary first-half results for Ras Al Khaimah Cement (RAK Cement) show that the UAE-based producer achieved a net profit of AED3.2m (US$871,198) compared to a loss of AED1.6m in the equivalent period of last year. In a statement to the Abu Dhabi Securities Exchange revealed that revenues from local sales amounted to AED37.5m (US$10.2m) against AED38m in 2013, down 1.05 per cent YoY. Export revenue, on the other hand, climbed five per cent to AED84m compared to AED80m in the year-ago pe...

Union Cement first quarter net profit jumps, UAE

12 May 2014, Published under Cement News

Union Cement Co posted a AED18.2m (US$5m) profit for the first quarter of 2014, a 220 per cent increase compared with AED18.2m a year earlier. Revenues for the first quarter declined to AED138.5m, compared to AED 161.7m in year-earlier period.

Fujairah Cement profit hit by weaker prices

24 February 2014, Published under Cement News

UAE-based producer Fujairah Cement recorded a AED12m (US$3.3m) loss last year as a weaker pricing environment affected revenue despite higher sales. In a filing posted on the Abu Dhabi Securities Exchange yesterday, the company said revenues were AED588m last year, compared to revenues of AED569m and a gross profit of AED35m the year before. “The market has not increased in our favour,” said Murthy Veasi, the company’s finance manager. “Prices have come down by nearly AED10 [per tonne] ...

Cemtech Middle East & Africa underway

04 February 2014, Published under Cement News

Cemtech Middle East & Africa 2014, the leading international cement conference and exhibition series, has opened in Dubai in front of an audience of over 270 senior industry delegates from 35 countries, including Guest of Honour, His Excellency Sheikh Yaser Al Qasemi, General Manager of Union Cement Company, Ras Al Khaimah, and Chairman of the Cement Producers’ Association of the UAE. Thomas Armstrong, Cemtech organiser, welcomes over 270 industry delegates from across the Middle Eas...

Oman seeks anti-dumping measures

30 December 2013, Published under Cement News

UAE cement producers have defended their export levels to Oman after Raysut Cement Company calls for anti-dumping measures to be put in place to restrict imports from the neighbouring country.  Raysut Cement is now urging the Omani government to put a "ceiling" on the amount of imports from UAE producers, stating that they " are offloading a large amount of cement in Oman, which has pushed prices down to a low level, especially in northern Oman," according to Samidh Mukhopadhya, CFO of O...

Raysut sales ease in first nine months, Oman

12 November 2013, Published under Cement News

Raysut Cement, the leading cement producer in Oman, reported a rise in pretax profit for the first nine months of 2013, but sales eased due in part to competition from neighbouring UAE. During the Jan-September 2013 period the company reported a 12.6 per cent YoY rise in net profit before tax of OMR21.52m (US$55.9m). Revenue was down slightly to OMR70.18m compared to OMR70.35m in the same period of the year. The company said that competition from the UAE is likely to continue, putting pres...

GCC: returning to form

18 October 2013, Published under Cement News

This year has marked a broad-based recovery in the construction markets of the Gulf Cooperation Council  (GCC) and the region appears to be returning to form, driven particularly by projects in Saudi Arabia and Qatar, as well as emerging signs of recovery in the UAE. A recent report by Global Investment House (GIH) states that the turnaround seen in 2012 is expected to maintain momentum as it sees consumption climbing from 4-5 per cent this year to 6-7 per cent next year due to se...

Fujairah sales fall in first-half 2013

15 August 2013, Published under Cement News

UAE-based producer Fujairah Cement Industries reported a net loss for the first six months of 2013 due to declining sales. The company registered a drop of AED3.6m (US$968,0000) for the period as its sales slipped by over six per cent to AED287.2m (US$78.2m), compared to AED307m (US$83.6m) in the same period last year. Fujairah Cement has a clinker capacity of 3.31Mta and operates a ThyssenKrupp Resource Technologies-built plant with two kiln lines.

Ras Al Khaimah for White Cement begins expansion project, UAE

09 July 2013, Published under Cement News

Sheikh Ahmed bin Humaid bin Mohammed Al Qasimi, Chairman of the Board of Directors of Ras Al Khaimah Company for White Cement and Construction Materials, has launched the expansion of its second major kiln line. According to Emirates News Agency, the project will cost AED65m and is in line with the efforts of HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, to create a strong industrial base in the Emirate of Ras Al Khaimah. The company, which was cre...