Cement News tagged under: UAE

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Fujairah Cement Industries reports 2Q decline

14 August 2017, Published under Cement News

UAE-based Fujairah Cement Industries Co posted a decline in its profits during the second quarter of 2017, according to a bourse statement. Net profits reached AED8.3m (US$2.26m) in 2Q17, compared to AED16.50m (US$4.5m) in 2Q16. The profit decline is mainly attributed to a decrease in its revenues by 16 per cent to AED138.03m in 2Q17 from AED164.20m in 2Q16. In 1H17 profits retreated 37.20 per cent to AED20.88m from AED33.25m in 1H16.

RAK Cement Co 1Q profit down 70%

16 May 2017, Published under Cement News

Ras Al Khaimah Cement Co reported a decline in profits by 69.8 per cent YoY during the first quarter of 2017, according to a bourse filing. Profits reached AED1.38m (US$38,110) in 1Q17, compared to AED4.57m (US$1.25m) in 1Q16. Revenues declined by 22.7 per cent YoY to AED51.64m in 1Q17, while sales, general and administrative expenses grew 7.7 per cent YoY to reach AED5.49m. Financing costs increased 33.4 per cent to AED 196,250 in 1Q17, compared to AED147,170 in 1Q16.

Sharjah Cement 1Q profit edges ahead

02 May 2017, Published under Cement News

UAE-based Sharjah Cement and Industrial Development Co registered a YoY rise of 1.75 per cent in 1Q17 profit. Earnings totalled AED11.6m (US$3.16m) in 1Q16 compared with AED11.4m (US$3.10m), according to a bourse filing on Monday. Shareholders equity stood at AED1.4bn in 1Q17 from AED1.39bn in 1Q16. Revenues in the first three months of this year fell by 5.09 per cent to AED165m from AED174m in the comparative period of 2016, the statement added.

UAE: Fujairah Cement to pay AED 21.35m dividends

18 April 2017, Published under Cement News

UAE-based Fujairah Cement Industries Co on Thursday approved the recommendation of distributing six per cent of the capital as cash dividends for fiscal year 2016. The company will pay a total of AED21.35m (US$5.81m) as cash dividends to entitled shareholders, according to a bourse statement issued on Sunday. During FY16, Fujairah Cement achieve a net profit of AED56.72m, up 12 per cent on the AED50.56m recorded in FY15.

Cemtech MEA 2017

03 April 2017, Published under Cement News

Delegates from over 30 countries, including all of the Gulf Cooperation Council’s member states, gathered in Dubai, UAE, between 19-22 February for this year’s Cemtech Middle East and Africa conference and exhibition. By ICR Research, UK. Over 200 delegates from more than 30 countries attended Cemtech MEA 2017, held at the Grand Hyatt Dubai, UAE Over 200 delegates gathered in the Grand Hyatt Dubai between 19-22 February for the 12th Cemtech Middle East and Africa conference and ...

Arkan to close UAE factory

21 March 2017, Published under Cement News

Building materials industrial conglomerate Arkan has announced its decision to permanently close its Emirates Cement Factory (ECF) in Al Ain, Gulf Digital News has reported. The announcement from Arkan's board comes following the successful consolidation of the company's cement business.  Arkan had announced in December that owing to significant gas and electricity price increases from 1 January 2017, it would implement a series of measures such as the temporary closure of ECF to boost ...

UAE: Arkan testing hazardous waste recycling

15 March 2017, Published under Cement News

Emirates Global Aluminium (EGA) and Arkan have agreed a test project which will see hazardous waste material from smelting pots recycled for use as cement kiln fuel. EGA is the largest industrial unit of Mubadala Investment Company, Abu Dhabi’s strategic development conglomerate. EGA said yesterday that it would provide between 1000-3000t of the spent smelter pot inner-lining (carbon waste usually sent to landfill) to test as both fuel to fire the kiln and as refactory material to be inco...

UAE: Arkan’s profits fall by 25% in 2016

17 February 2017, Published under Cement News

Arkan Building Materials has seen its annual profits fall by a quarter to AED75.7m (US$20.6m), according to reports in Construction Week Online. The company, which is the UAE’s single largest cement producer by installed capacity, blamed damage related to heavy rains in March 2016 as the cause of its fall in revenues. Better control of costs saw the firm’s gross profit margins increase to 36 per cent in 2016, while sales volumes improved in both the UAE and internationally. However, ex...

UAE: Sharjah Cement sees 20% fall in 4Q profits

15 February 2017, Published under Cement News

Sharjah Cement and Industrial Development Co reported a 20 per cent YoY decrease in profits for 4Q16. Profits declined from AED24.52m (US$6.68m) in 4Q15 to AED1958m in 4Q16. Net profit for 2016 amounted to AED60m, 3.2 per cent down from AED62m in 2015, according to a bourse filing. Revenues decreased in 2016 to AED612m from AED639m for 2015.

GCC: capacity outpaces demand

15 February 2017, Published under Cement News

With oil prices forecast to remain at the lower end of the scale, Gulf Cooperation Council countries reassess their needs. A heightened focus on economic diversification drives infrastructure investment and governments address the lack of affordable housing for their growing populations. However, the expansion of cement capacity is outpacing demand growth. By Hettish Karmani, Ubhar Capital, Oman. With a stronger focus on economic diversificaiton and housing, GCC countries hope to brid...