GCC cement: set for a revival? Premium
With oil prices expected to remain elevated, GCC governments are easing their budgets and restarting construction projects. For cement producers this is good news and the sector...
Saudi Arabia
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Tabuk Cement appoint a new chairman and vice-chairman
Tabuk Cement ’s board of directors have appointed Yazid bin Khalid Al-Shathri as chairman, and Tareq Alangari as vice-chairman, according to a statement to Tadawul. Amal Redaa w...
IKN commissions Southern Province Cement cooler
IKN has successful commissioned the new Southern Province Cement Co Bisha line 1 clinker cooler in Saudi Arabia. This is the conclusion of a very challenging project that starte...
Bullish 4Q22 results expected for Saudi Arabian producers
Twelve Saudi Arabian cement companies' aggregate profit listed on Tadawul are expected to surge 101 per cent YoY and 20 per cent QoQ to SAR617m (US$164.5m) in the 4Q22, accordin...
Saudi cement demand to remain flat in 2023
Cement demand in Saudi Arabia is forecast to remain flat in 2023 before expanding by five per cent YoY in 2024, according to a report by SICO Bank. Cement demand fell by 1.8 per...
Yanbu Cement pays out US$31m in dividends
Yanbu Cement Company is to pay out cash dividends worth SAR118.12m (US$31.49m) to shareholders in the second half of 2022. This represents 7.5 per cent of capital. According to ...
Saudi cement sales rise 5% in November
The aggregate sales of 17 Saudi cement producers rose one per cent YoY to 4.8Mt in November 2022, according to Yamama Cement Co ’s data. Locally, nine market players reported sa...
Umm Al Qura Cement sees net profit slide 54% YoY in 9M22
Saudi Arabia’s Umm Al Qura Cement Company has reported a 15.13 per cent drop in revenue to SAR179.29m (US$47.8m) in the first nine months of 2022. This compares to SAR211.25m in...
Southern Province 9M profit contracts to SAR238m
The net profit after zakat and tax of Saudi Arabia-based Southern Province Cement Co declined by 28.1 per cent YoY to SAR238m (US$63.5m) in the 9M22 from SAR331m. Revenues fell ...
Najran Cement reports 50% drop in profit in 9M22
Najran Cement has recorded revenue of SAR375.6m (US$100.2m) in the opening nine months of 2022, down 15 per cent compared to the SAR441.89m seen in the 9M21. Net profit after Za...