Cement News tagged under: UAE

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UAE: National Cement nine-month net profit up 2% YoY

13 November 2014, Published under Cement News

UAE-based producer National Cement Company said on Wednesday its net profit for the first nine months of 2014 rose 1.97 per cent to AED77.5m (US$21.1m) from AED76m in the corresponding period of 2013. Earnings per share (EPS) stood at AED 0.22, compared with AED 0.21. Revenue of the building materials producer fell to AED161.9m from AED174m.

Gulf Cement Company nine-month profit surges

07 November 2014, Published under Cement News

UAE-based Gulf Cement Company registered 62 per cent growth in its net profit to AED73.9m (US$ 20.1m) for the first nine months of 2014, the company said in a statement to Abu Dhabi Securities Exchange. The growth was attributed to a 178 per cent increase in operating income and a 181 per cent rise in gross profit which was enough to offset the sharp drop in investment income. Gross profit soared 181 per cent to AED80.4m, while investment income narrowed 39 per cent to AED32.3m. Earnings ...

Fujairah factory operations suspended for environmental violations

18 September 2014, Published under Cement News

The UAE’s Ministry of Environment and Water (MoEW) has ordered the suspension of operations at a cement factory in Fujairah for one month due to violations of Cabinet Resolution No 24 (2011) for environmental protection, according to reports by Gulf News. “The ministry is strictly implementing laws and regulations that promote environmental protection and sustainability, a press release issued by the ministry said on Tuesday. The MoEW regularly conducts inspections in collaboration with l...

Dubai to acquire interest in Dangote Cement

09 September 2014, Published under Cement News

Investment Corporation of Dubai (ICD), the main investment arm of the Emirate of Dubai, has agreed to purchase a minority interest in Nigeria's largest cement manufacturer, Dangote Cement plc, from majority shareholder, Dangote Industries Ltd. Under the terms of the agreement, which was signed at a ceremony in Dubai attended by HE Mohammed Ibrahim Al Shaibani, executive director and CEO of the Investment of Corporation of Dubai and Aliko Dangote, president and CEO of Dangote Industr...

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...