Qassim Cement signs MoU for proposed acquisition of Hail Cement
Qassim Cement Co (QCC) signed a non-binding memorandum of understanding (MoU) with Hail Cement Co (HCC) to commence discussions for QCC to acquire all issued shares of HCC. In a...
Saudi Arabia
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August cement sales up 10% YoY in Saudi Arabia
Cement sales in Saudi Arabia advanced by 10 per cent YoY in August 2022, according to a report by brokerage house Aljazira Capital. Sales last month reached 4.38Mt marking a 19....
Riyadh Cement reports drop in 1H profit
Saudi Arabian cement producer Riyadh Cement Co posted a 28.8 per cent decline in 1H22 sales to SAR285.6m (US$76.2m) from SAR401.4m in the 1H21. The company’s net profit after za...
Riyadh Cement reports 47% profit fall in 1H22
Saudi-based Riyadh Cement has reported a 47 per cent YoY decline in profit to SAR85m (US$22.67m) in the opening six months of 2022. Over the same period, the company saw its rev...
Al Jouf Cement sees profits tumble 92% in 1H22
Saudi Arabia’s Al Jouf Cement Co has reported a 19.2 per cent YoY fall in revenue to SAR98.29m (US$26.2m) in the first half of 2022. Net profit after zakat and tax tumbled 92 pe...
Najran Cement appoints new chairman and vice chairman
Saudi-Arabian cement producer Najran Cement Co has appointed Waleed Bin Abdulrahman Al-Mousa as chairman of the company’s board of directors. Fahd bin Abdullah Al-Rajhi has been...
Umm Al-Qura Cement Co posts 55% fall in net profit in 1H22
Saudi cement producer, Umm Al-Qura Cement Co has posted a 55 per cent fall in net profit during the 1H22 owing to lower cement sales, compared to the 1H21. Profits in the first ...
Al Jouf Cement appoints new CEO
Saudi Arabia-based Al Jouf Cement has appointed Abdul Karim Al-Nuhair as CEO, effective from 21 August 2022. Mr Al-Nahair replaces Jamal bin Salem Al-Amer who resigned as CEO on...
Qassim Cement Co sees 73% fall in profits in 1H22
Qassim Cement Co posted a 73 per cent drop in profit during the 1H22, hit by lower cement demand. The Saudi cement producer’s profit fell to SAR54m (US$14m), compared to SAR201m...
City Cement posts 26% drop in 2Q sales
Saudi Arabia-based City Cement Co saw a 50.1 per cent drop in net profit after zakat and tax to SAR24.8m US$6.61m) in the second quarter of 2022. In the 2Q21 net profit after za...