Cement News tagged under: UAE

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Gulf Cement Co returns to profit, UAE

12 February 2016, Published under Cement News

Gulf Cement Co reported net profits of AED24.54m (US$6.7m) in the fourth quarter of 2015, against losses of AED13.3m (US$3.62m) in the same quarter of 2014, according to a bourse filing on Thursday. Profits reached AED71.44m (US$19.45m) in the fiscal year 2015, a decline of 18 per cent from AED60.57m (US$16.49m) in FY14. The board recommended seven per cent cash dividends or AED 0.7 per share pay-out for the FY15, totalling AED57.49m.

Arkan appoints new chief operating officer, UAE

13 January 2016, Published under Cement News

Arkan Building Materials, a leading construction and building materials company in the UAE, has appointed Abdelaziz Asad as its new chief operating officer. Mr Asad, a UAE national, started his career in 1991 with one of Arkan’s subsidiaries, Emirates Cement Factory. He joined as an electrical engineer and quickly advanced within the organisation, becoming the general manager of the company’s cement division, said a statement from Arkan. In his new role, Mr Asad will be reporting directly ...

Fujairah Cement Industries net profits rise 45%

16 November 2015, Published under Cement News

Fujairah Cement Industries (FCI) announced a 45 per cent increase in its net profits for the first nine months of 2015, compared to the same period last year. Profits reached AED24.7m (US$6.7m) in the first nine months this year, up from AED17.06m (US$4.64m) in the same period of 2014. The statements also showed a rise in the sales by about 1.5 per cent to AED454.27m, from AED447.4m in 2014. Cost of sales declined by 1.04 per cent to AED403m by the end of the above period, compared to AED...

RAK Cement buys back 68,560 shares, UAE

07 September 2015, Published under Cement News

Ras Al Khaimah Cement Co decided to repurchase 68,560 of its shares on Thursday at AED0.83/share. Accordingly, the total number of treasury shares rose to 10.29m with 45.6m shares remaining to be bought as part of the company’s buyback programme, according to a filing to the Abu Dhabi Securities Exchange Sunday. The cement firm recently reported a fall in its net profits for 1H15 to AED2.45m (US$0.667m), from AED 3.15m in the same period the year before.

National Cement Co first half ahead 4.7%

07 August 2015, Published under Cement News

National Cement Co (NCC) posted a net profit of AED70.2m (US$19.11m) in the first half of 2015, a rise of 4.7 per cent from AED67m (US$18.24m) in the corresponding period from last year. NCC’s profits for Q2-15 saw a marginal increase to AED33.73m compared to AED33.13m in the same period in 2014, according to a filing to the Dubai Financial Market (DFM) on Thursday. The cement firm previously posted a 7.4 per cent rise in net profits for 1Q15 to AED36.46m compared to AED34m in 1Q14.

RAK Cement reports first-half profit drop

07 August 2015, Published under Cement News

Ras Al Khaimah Cement reported a 22.3 per cent profit drop to AED2.45m ($667,000) in the first half of 2015, compared to AED3.15m (US$858,000) in the same period of 2014, according to a filing to the Abu Dhabi Securities Exchange.

Gulf Cement 1H profit down 29%, UAE

06 August 2015, Published under Cement News

Gulf Cement Company reported a 29.34 per cent drop in first-half profit drop to AED30.89m (US$48.4m), compared to AED43.7m (US$12m) in the same period of 2014. On a more positive note, second quarter profit increase from AED15.75m versus AED9.3m in 2Q14 according to Abu Dhabi Securities Exchange. The company previously reported profits of AED15.14m in 1Q15, compared to AED53m in 1Q14, registering a sharp decline of 71.4 per cent YoY. Gulf Cement Co's plant in Ras Al Khaimah started with...

UAE: Union Cement Co 1H profit declines 8%

24 July 2015, Published under Cement News

Union Cement Co (UCC) reported an eight per cent decline in its profits for the first six months of 2015 to AED54.7m (US$14.89m), compared to AED59.4m (US$16.16m) in H1-14, the company said in its filing to the Abu Dhabi Securities Exchange (ADX) on Thursday. UCC achieved revenues of AED314.7m during the six-month period in 2015, a decline of 3.7 per cent from AED326.7m in the same period last year, attributed to lower sales volumes. Cost of sales fell 3.62 per cent to AED234.88m, compared...

Domes of the Middle East

26 March 2015, Published under Cement News

Geometrica designs some of the world’s largest free-span domes, trademarked as Freedomes®, as a solution for challenging architectural and logistical feats across the Middle East. Freedome technology "has revolutionised the installation process on any terrain," according to the company, and below are case studies of cement plant projects undertaken for key producers across the Middle East. Star Cement, UAE The United Arab Emirates is well known for its cement production, refineries and ...

UAE: Gulf Cement net profit down 11.3%

23 February 2015, Published under Cement News

Gulf Cement, which is listed on the Abu Dhabi Securities Exchange, said last week it booked a net profit of KWD4.7m (US$15.9m), down 11.3 per cent from KWD5.3m a year earlier. For the fourth quarter of 2014, the UAE-based cement producer slipped into a net loss of KWD1m, versus a net profit of KWD1.8m in the corresponding period of 2013.