Cement News tagged under: Umm Al Qura Cement

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Umm Al Qura Cement sees 17% decline in profit

03 August 2021, Published under Cement News

Saudi Arabia’s Umm Al Qura Cement has seen a 16.8 per cent decline in net profit to SAR49.45m (US$13.19m) in the first half of 2021, compared to SAR59.48m in the year-ago period. Sales also decreased 2.9 per cent YoY to SAR154.3m from SAR159.01m in the 1H20. The company also announced the resignation of its CEO, Fawaz bin Saleh Al-Mutairi, which will take effect from 1 September 2021.

Umm Al Qura Cement appoints chairman

05 July 2021, Published under Cement News

Saudi Arabia’s Umm Al Qura Cement Co has appointed Abdullah Abdulaziz Suleiman Alabdulatif as its chairman. The board also appointed Saud Mahamed Ali Al Sabhan as vice-chairman, according to a bourse filing. The board also approved the formation of the Remuneration and Nominations committees, the appointment of representatives before the Capital Market Authority and the Saudi Stock Exchange (Tadawul).

Umm Al-Qura Cement announces 37% revenue increase

30 October 2020, Published under Cement News

Saudi Arabia’s Umm Al-Qura Cement has announced a 37 per cent YoY rise in revenue to SAR87.61m (US$23.36m) for the third quarter of 2020, compared to SAR63.96m in the year-ago period. Net profit also surged 68.5 per cent to SAR31.91m from SAR18.94m in the 3Q19.

Umm Al Qura reports net profit surge in 1Q20

24 April 2020, Published under Cement News

Saudi Arabia’s Umm Al Qura has seen its net profit increase 79.1 per cent YoY to SAR38.5m (US$10.27m) in the first quarter of 2020, rising from SAR21.5m in the year-ago period. Quarterly sales surged 52 per cent to SAR96.5m from SAR63.5m. Average selling prices were also reported to have improved in the 1Q20.

Umm Al Qura Cement Q1 doubles profit in 1Q19

02 May 2019, Published under Cement News

Saudi cement producer Umm Al Qura saw its first-quarter net profit, after tax and zakat, more than doubled to SAR21.5m (US$5.7m) in the 1Q19 from SAR10.2m in the 1Q18. The company attributed the rise in profit due to improved selling prices as well as an increase in sales values. First-quarter sales advanced 12.4 per cent to SAR63.5m in 2019 when compared with SAR56.5m in the year-ago period.

Saudi producers face declining results in 3Q18

06 November 2018, Published under Cement News

Saudi's Arabian Cement has posted a 51.2 per cent YoY decline in net profit during the 3Q18, falling from SAR29.5m (US$7.86m) to SAR14.4m. Furthermore, sales decreased 27.7 per cent to SAR117.9m from SAR163m. Elsewhere, Umm Al Qura Cement has recorded a net loss of SAR3.9m for the third quarter, compared to a profit of SAR5.1m in the year-ago period. Sales dropped 23.6 per cent YoY to SAR33.7m from SAR44.1m.

Saudi Arabia: Umm AlQura signs deal with Aramco

27 July 2016, Published under Cement News

Umm AlQura Cement has signed an agreement with Aramco to purchase fuel for its new Portland cement production line close to Taif city. According to a statement to the Saudi Stock exchange from Umm AlQura, the company expects trials and commercial production to start in 3Q16. Umm AlQura said that the Saudi Ministry of Energy, Industry and Minerals had previously agreed to supply the fuel on the condition that the company provide a SAR100m (US$26.7m) letter of credit.

Umm Al Qura Cement Q3 losses widen 75%, Saudi Arabia

19 October 2015, Published under Cement News

Umm Al Qura Cement posted SAR1.7m (US$0.45m) in net loss for the third quarter of 2015, a rise of 75 per cent from SAR6.9m (US$1.8m) logged in the same period a year earlier. Net loss for the first nine months of 2015 amounted to SAR14.1m, compared with SAR29m in the corresponding period of 2014.

Umm Al Qura Cement signs deal with CNBM International Engineering

08 September 2015, Published under Cement News

Umm Al Qura Cement has signed an agreement with CNBM International Engineering to operate a cement production line, the company said in a bourse statement on Monday. The SAR32m (US$8.5m) agreement covers the experimental operational period and first year of operation. The deal will be financed from the company’s cash sources.

Umm Al Qura set to raise US$73m via float

09 April 2014, Published under Cement News

Umm Al Qura Cement is to raise over SAR275m (US$73m) in cash by selling 27.5m shares at SAR10 each via a flotation on Saudi Arabia's stockmarket, Tadawul. The shares are expected to be floated by the new Riyadh-based cement supplier at the end of April, and a prospectus will be published in advance. Saudi Arabia's Minister of Commerce and Industry Dr Tawfiq bin Fawzzah Al-Rabiah said that half of the shares will be sold to the general public, with the rest retained by the project's partn...