Cement News tagged under: UAE

RSS feed

GCC profits rise 27.1 per cent in 1H12

06 September 2012, Published under Cement News

Profits of the Gulf Cooperation Council (GCC) cement sector increased 27.1 per cent YoY in the first half of 2012 to US$971.5m from US$764m in the same period of 2011, the latest report from Global Investment House (GIH) shows. According to the report, the GCC cement sector grew 17 per cent in the first six months of the year mainly due to a huge pipeline of projects in Saudi Arabia helping to generate significant demand. Oman was in second place with growth of 13.8 per cent while Qatar a...

Improved outlook for Omani cement companies

29 August 2012, Published under Cement News

Oman cement companies are set for brighter times ahead as inflows of cheap cement from the UAE decline and demand picks up both in the UAE and the sultanate, according to a report by Global Investment House (GIH). In its GCC cement sector report released on Tuesday, GIH said that Omani cement firms are set for steady growth in the coming quarters as growth in the construction sector leads to a higher cement demand.  “The inflow of cheap cement from UAE, which earlier roughly catered to...

Fujairah Cement reverses loss, increases sales, UAE

13 August 2012, Published under Cement News

Fujairah Cement reported increased sales in the six months to June 2012 of 16 per cent to US$$83.6m in the six months to June 30 and it reversed a $2.4m loss last year into a $5.5m profit. Earnings per share also climbed to 1.55 cents (5.7 fils), compared to a loss of 0.68 cents (2.5 fils) last year. Despite this, however, the company said that the recession that has been felt in the construction sector is "continuing". A statement accompanying the firm's results from general manage...

Middle East market developments

13 August 2012, Published under Cement News

Cement producers in the Gulf Cooperation Council (GCC) nations witnessed a 24.3 per cent increase in revenues in the first quarter of 2012, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the Middle East. Saudi Arabia continues to be the region's strongest market, but improvements are being seen in the UAE and Qatar is gathering pace. However, a challenging operating environment persists in Egypt. According to a report by Global Investment House (GIH), combine...

GCC first-quarter revenues rise

08 August 2012, Published under Cement News

GCC cement companies witnessed a 24.3 per cent increase in revenues in the first quarter, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the region, according to a recent report. The industry's profits rose to US$435.6m, compared to US$359.54m in the first quarter of last year, a growth of 21.2 per cent. However, according to Global Investment House's report, net margins suffered a fall of 90.4 basis points during the period. Gross margins witnessed a 233.6 b...

Union Cement Company reverses loss, UAE

08 August 2012, Published under Cement News

Union Cement Company, reported a rise in its net profit for the first six months of 2012 of US$5.6m, reversing the US$2.4m loss reported in 2011. The advance is attributed to higher selling prices of cement and clinker this year which more than compensated for a decline in sales to US$88.3m. The company said that margins had improved as a result of management attempts to reduce overheads both through trimming procurement costs and optimising production capacity. Cost of sales fell t...

UAE sees brighter long-term prospects

03 July 2012, Published under Cement News

The long-term prospects for the UAE cement industry are bright due to growth in investment in infrastructure in the UAE, GCC and key foreign markets, the latest study by Dubai Chamber of Commerce and Industry finds. The UAE has the potential to become the major provider of cement to the Middle East and North Africa (MENA) region and beyond when taking into account the lucrative opportunities that exist. The study, which is based on the Business Monitor International (BMI) UAE Infrastructur...

UAE cement prices drop 3.4% in May

14 June 2012, Published under Cement News

The average prices of several building materials groups have undergone changes during May 2012, compared with April 2012, a monthly report by the Statistics Centre Abu Dhabi (SCAD) revealed. The average prices of cement dropped by 3.4 per cent, due mainly to decreases in the price of Portland cement per tonne by 11.3 per cent and SRC by 5.9 per cent. The next largest fall was in the average price of aggregates and sand which decreased by 3.2 per cent.

FLSmidth secures Kalina power plant contract in UAE

08 June 2012, Published under Cement News

The Directors of Wasabi Energy have announced that the company's Kalina Cycle licensee, FLSmidth has secured a contract to install its second Kalina Cycle power plant utilising waste heat from a major cement plant. The new contract is for a 4.75 MWe Kalina Cycle power plant which will be installed by Q2 CY2013 at Star Cement's cement plant in Ras Al Khaimah, United Arab Emirates. ??Star Cement Co. LLC was acquired in 2010 by UltraTech Cement which is part of the Aditya Birla Group. Was...

Oman expected to raise prices in 2013

28 May 2012, Published under Cement News

Omani cement producers will be able to raise prices by 2013 as dumping from the oversupplied UAE market slows and demand improves domestically and abroad, according to analysts, the Muscat Daily reports. A BankMuscat research report said that the drop in domestic price realisations took a 'halt' in the first quarter this year after six quarters of continuous declines, while the export realisation uptick came as a positive surprise. The report said, “Realisations have largely stabilised at ...