Cement News tagged under: UAE

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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.

Union Cement reports 5.1% rise in profits for 2Q16

01 August 2016, Published under Cement News

Union Cement in the UAE  saw a 5.1 per cent YoY rise in 2Q16 profits to AED29.72m from AED28.27m in 2Q15.  The company posted a 24.9 per cent fall in its 1H16 profits from AED54.7m the previous year to AED41.07m. Sales declined 18.3 per cent to AED257m.

Fujairah Cement Industries 4Q net profit up 26%

16 February 2016, Published under Cement News

UAE-based Fujairah Cement Industries (FCI) posted a 26 per cent jump in fourth-quarter net profit of AED26m (US$7.07m) compared to AED8.71m (US$2.37m) in the same period of 2014. FCI’s full-year net profit climbed 96.55 per cent to AED50.65m (US$1m) as compared to AED25.77m (US$1m) in the fiscal year of 2014. The company's sales in 2015 reached AED612.21m, down 0.53 per cent versus AED615.5m. Fujairah Cement generated net profits of AED24.7m (US$6.7m) in the first nine months of 2015, com...

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.