Cement News tagged under: United Arab Emirates

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Rock solid contribution

12 November 2019, Published under Cement News

With limestone, dolomite and gabbro deposits totalling a combined production of over 80Mta and reserves of over 4.5bnt, Stevin Rock is a key global producer of crushed rock. Its quarries in the United Arab Emirates (UAE) supply in a sustainable way a wide range of products to a multitude of customers across the world. By Stevin Rock, UAE. Stevin Rock’s Khor Khuwair quarry has a production capacity of over 60Mta Together with its sister company RAK Rock, Stevin Rock is one of the...

Gulf Cement Co sees fall in profit in 2018

20 February 2019, Published under Cement News

UAE-based Gulf Cement Co reported revenues of AED475.707m (US$129.5m) in 2018, according to the company’s preliminary results. This represents an 18.4 per cent drop from AED583.203m the previous year. The company’s net operating profit of AED24.360m in 2017 declined to a loss of AED49.072m in 2018 while net profit fell from AED40.613m to a loss of AED32.99m over the same period.

RAK Cements profit falls to AED13m

14 February 2019, Published under Cement News

Ras Al Khaimah Co for White Cement and Construction Materials has posted a 57 per cent drop in net profit to AED13m (US$3.5m) in 2018. The company’s revenues fell from AED767.92m in 2017 to AED755.22m one year later while total assets declined to AED1.03bn in 2018 versus AED1.102bn the previous year.

Fujairah sees stable revenues but profit slip in 2018

11 February 2019, Published under Cement News

Fujairah Cement Industries reported largely stable revenues in 2018 at AED614.559m (US$167.3m) when compared with AED620.825m in 2017. Net operating profits were down 18 per cent to AED118.384m from AED143.498m from the previous year. For the fourth quarter of 2018, the company saw a three per cent decline in total operating revenues to AED151.893m when compared with the 4Q17 when revenues reached AED156.538m. Net operating profit during the quarter fell by 23 per cent YoY to AED28.518m.

Gulf Cement 9M profit down

13 November 2018, Published under Cement News

UAE-based Gulf Cement reported a 9.3 per cent fall in revenues in the 9M18 to AED371.7m (US$101.2m) from AED409.8m in the year-ago period. Net profit fell 95 per cent from AED33.1m in the 9M17 to AED1.6m in the first nine months of 2018. The company attributed the decline in its net profit due to rising coal and gas prices. In addition, increased supply to the market resulted in falling selling prices.

Arkan Building Materials to co-process SPL

13 November 2018, Published under Cement News

Emirates Global Aluminium (EGA) will supply Abu Dhabi-based Arkan Building Materials with waste from its smelting operations. Arkan will co-process EGA’s spent pot lining (SPL) material in its kilns. EGA is building facilities at its Al Taweelah site to process SPL into an alternative raw material or fuel that can be used in cement plants. HE Eng Jamal Salem Al Dhaheri, chairman of Arkan, said the company would be able to reduce its dependence on fuel by using EGA's wasted spent pot lini...

Fujairah Cement Industries (FCI) sees fall in profit

13 November 2018, Published under Cement News

Fujairah Cement Industries (FCI) saw its third-quarter profits fall by 95 per cent to AED0.3m (US$ 81,688) in the 3Q18, a sharp drop from AED6.2m reported in the year-ago period. In the January-September period, FCI reported profits of AED12.2m, down 55 per cent from AED27.1m in the 9M17. Earlier this year, the company had posted 1H profits of AED11.9m, representing a 43 per cent YoY drop.

Gulf Cement Q2 profit falls 38%

15 August 2018, Published under Cement News

UAE cement producer Gulf Cement reported a 38.2 per cent fall in net profit attributable to shareholders to AED8.4m (US$2.29m) in the 2Q18 when compared with AED13.6m in the year-ago quarter. Total operating revenues during the second quarter decreased to AED108.8m, down 25.9 per cent from AED146.9m in 2Q17.

Arkan posts AED30.2m net profit following Emirates Cement closure

16 February 2018, Published under Cement News

UAE cement producer Arkan Building Materials Co posted a net profit of AED30.2m in 2017 compared to a loss of AED82.3m in 2016. The company attributed the increase in profits to an AED158m asset write-off relating to the closure of the Emirates Cement Factory. “Net profit was also impacted by the increase in gas and electricity prices enforced last year by AED78m and the completion of the accounting treatment of the benefit from the government grant of AED18m received in July 2011,” th...

Sharjah Cement FY17 net profit up 2%

05 February 2018, Published under Cement News

Sharjah Cement saw net profit edge up 1.6 per cent to AED65m (US$17.7m) in 2017 from AED64m a year ago, according to Reuters. Revenues of the UAE cement producer rose 6.2 per cent from AED612m in 2016 to AED650m last year.