Cement News tagged under: UAE

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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...

UAE: Fujairah sees profit 12% rise in 2016

13 February 2017, Published under Cement News

Fujairah Cement saw a 57.3 per cent drop in its profits during the 4Q16, according to a bourse filing. Profits fell to AED11.07m (US$3m) in 4Q16 from AED25.95m in 4Q15. However, full-year 2016 profits rose 12 per cent from AED50.65m in 2015.

UAE: Ras Al Khaimah hit by cement plant emissions

25 January 2017, Published under Cement News

The Environment Protection and Development Authority (EPDA), has launched an investigation into dust clouds and emsisions from the Ras Al Khaimah cement factory following observations of Khor Khuweir residents. A number of staff inspectors were dispatched to the site where they extensively studied the reasons behind the sudden and unexpected emissions, according to  Dr Saif Al Ghais, EPDA director. Initial investigations point to a technical fault in the factory, Dr Ghais disclosed. Staff...

AICCE 21 - Equipping the Middle East

18 January 2017, Published under Cement News

The 21st Arab International Cement Conference and Exhibition (AICCE 21) took place at the Abu Dhabi National Exhibition Centre in the United Arab Emirates (UAE) on 16-18 November 2016. This annual gathering, which incorporates the largest equipment supplier fair in the region, attracted 615 delegates from 136 companies. Over 600 delegates gathered at the 21st Arab International Cement Conference and Exhibition to find out more about the latest advances in cement production technolo...

UAE: National Cement Co sees 46% fall in 3Q profits

15 November 2016, Published under Cement News

National Cement reported a 46.2 per cent drop in third-quarter net profits to AED9.85m (US$2.7m) from AED18.31m 3Q15. For the first nine months of 2016, the company posted net profits of AED73.48m, down from AED88.52m reported in the equivalent period of last year.

UAE: Fujairah Cement profits up 59%

14 November 2016, Published under Cement News

Fujairah Cement Industries Co reported an increase of 58.9 per cent in profits in 3Q16 as compared with the same period a year ago. Earnings rose to AED12.39m (US$3.37m) in 3Q16 from AED7.8m (US$2.12m) in 3Q15, the company said in a bourse statement issued on Sunday. In the first nine months of this year, Fujairah Cement, which is listed on both KSE and ADX, saw a 84.8 per cent YoY jump in profits to reach AED45.65m when compared with AED24.70m in 9M15. The company attributed the in...

Oman: Raysut Cement upgrades

16 August 2016, Published under Cement News

Raysut Cement is in the process of completing several expansions and improvements across its domestic and international assets. One project currently underway is the upgrade of its gas supply station at its Salalah plant in Oman. The upgrade will enable the plant to receive an additional 40,000m 3 of gas as fuel per day. According to Chairman of the Board of Directors, Ahmed Yousuf bin Alawi, upon completion of the project, the plant’s production capacity will increase to approximately 1...

UAE: Fujairah Cement sees 48% drop in revenues

15 August 2016, Published under Cement News

Fujairah Cement Industries saw its revenues fall by 48 per cent to AED164.2m in 1H16 from AED315m in 1H15. The UAE-based company saw its profit for the period ended 30 June 2016 more than halve from AED33.3m to AED16.5m.

UAE: Sharjah Cement profits fall 17% in 2Q16

01 August 2016, Published under Cement News

Sharjah Cement and Industrial Development Co reported a 17 per cent fall in 2Q16 profits, according to a bourse statement. Profits reached AED17.8m (US$4.84m), compared to AED21.4m in the equivalent period of the previous year. In the first half of 2016, the company generated a profit of AED29.2m, down from AED32.62m in 1H15. Sales rose 6.2 per cent YoY to AED343m in 1H16 from AED322.78m.