Cement News tagged under: United Arab Emirates
Fujairah sees stable revenues but profit slip in 201811 February 2019, Published under Cement NewsFujairah 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 down13 November 2018, Published under Cement NewsUAE-based Gulf Cement reported a 9.3 per cent fall in revenues in the 9M18 to AED371.7m (US$101.2m) from AED409.8m in the year-ago period. Net profit fell 95 per cent from AED33.1m in the 9M17 to AED1.6m in the first nine months of 2018. The company attributed the decline in its net profit due to rising coal and gas prices. In addition, increased supply to the market resulted in falling selling prices. |
Arkan Building Materials to co-process SPL13 November 2018, Published under Cement NewsEmirates Global Aluminium (EGA) will supply Abu Dhabi-based Arkan Building Materials with waste from its smelting operations. Arkan will co-process EGA’s spent pot lining (SPL) material in its kilns. EGA is building facilities at its Al Taweelah site to process SPL into an alternative raw material or fuel that can be used in cement plants. HE Eng Jamal Salem Al Dhaheri, chairman of Arkan, said the company would be able to reduce its dependence on fuel by using EGA's wasted spent pot lini... |
Fujairah Cement Industries (FCI) sees fall in profit13 November 2018, Published under Cement NewsFujairah Cement Industries (FCI) saw its third-quarter profits fall by 95 per cent to AED0.3m (US$ 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 NewsUAE 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 closure16 February 2018, Published under Cement NewsUAE 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 NewsSharjah 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. |
UAE: Arkan cutting energy usage in response to price rises04 January 2017, Published under Cement NewsEmirati building materials firm Arkan, which operates the Al Ain and Emirates cement factories, has announced a series of energy saving measures in response to rising prices for electricity, water and natural gas, Trade Arabia reports. The initiatives include the installation of a waste heat recovery unit on the clinker cooler at the Al Ain cement factory. Arkan is also conducting a feasibility study on the construction of a captive coal-fired power plant for the facility. As an interi... |
UAE: Ras Al Khaimah sees 3Q16 profit fall of 85% YoY02 November 2016, Published under Cement NewsRas Al Khaimah Cement reported a fall of 84.7 per cent YoY in profits during 3Q16, according to a bourse statement. Earnings in the third quarter decreased to AED747,710 (US$203,520) in 3Q16 from AED4.88m the year before. In the January-September 2016 period profits amounted to AED7.78m, up 6.1 per cent when compared with a profit of AED7.33m in 9M15. |
Fujairah Cement approves Sohar Cement venture22 August 2016, Published under Cement NewsThe Board of Directors of Fujairah Cement Industries has given the go-ahead to establish Sohar Cement Co in Oman. The new company investment cost amounts to OMR1.42m (US$3.69m), representing 20 per cent of the paid-up capital. |