S&P upgrades CEMEX investment grade
Rating agency Standard & Poor’s (S&P) has upgraded CEMEX ’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating perf...
Business Results
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Hail Cement sees 19% drop in 1Q net profit
Hail Cement posted 1Q24 sales of SAR73.8m (US$19.7m), up by 19.2 per cent when compared with SAR61.9m in the 1Q23. The company’s gross profit declined by 11 per cent to SAR20.1m...
Saudi Cement posts SAR113.8m net profit in 1Q24
Saudi Cement Co reported a net profit of SAR113.8m (US$30.3m) in the 1Q24, representing a 8.1 per cent drop YoY from SAR123.8m but a QoQ increase of 9.6 per cent from SAR103.80m...
Yanbu Cement posts 14% increase in net profit
Yanbu Cement Co reported a 14.3 per cent YoY increase in net profit to SAR58.31m (US$15.5m) in the 1Q24 from SAR51.01m in the 1Q23. The company attributed the rise in profit to ...
JK Cement sees revenue rise in March quarter
India-based JK Cement has reported total income of INR29,820.3m (US$357m) in the quarter ended 31 March 2024, compared to INR27,006.7m in the same quarter a year earlier. Profit...
Cementir's 1Q24 regional market update
Cementir's results for the 1Q24 were overall in line with management's expectations despite the decline in revenues and EBITDA compared to the first quarter of the previous year...
Eastern Province Cement sees revenue jump 28% YoY
Eastern Province Cement Co has posted net income of SAR68m (US$18.13m) in the opening quarter of 2024, up 21.4 per cent YoY. Cement sales over the three-month period came in at ...
Vulcan Materials posts fall in revenues in 1Q24
US-based Vulcan Materials has reported total revenue of US$1546m in the first quarter of 2024, down from US$1649m in the same period a year earlier. Gross profit in the 1Q came ...
Heidelberg Materials sees revenue dip 8% YoY in 1Q24
Heidelberg Materials has reported an eight per cent YoY decline in revenue to EUR4488m in the opening quarter of 2024. According to the company, the fall was the result of lower...
Birla Corp reports 127% jump in net profit
Birla Corp has continued its steady progress of the first three quarters of fiscal 2023-24 to end the year on a high, with record cement sales by volume and a 127 per cent growt...