RAK Cement profits have fallen in 9M17
RAK Cement has seen a 21.2 per cent fall in profits in 9M17. The UAE-based company's net profit totalled AED212,470 (US$57,830), compared to AED7.8m (US$2.12m) in 9M16.
Saudi Arabia
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Tabuk Cement reports a net loss in 3Q17
According to Reuters, Tabuk Cement has seen a net loss of SAR12.2m (US$3.2m) in 3Q17, compared to a net profit of SAR7.9m (US$2.1m) in 3Q16.
Saudi Arabian companies report profit falls in 3Q17
Saudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Northern Region Cement reported a 58.4 per cent YoY decrea...
Red Sea City plan raises Saudi cement firms' share prices
Saudi Arabia’s plan to build an entirely new US$500bn city, Neom, by the Red Sea has breathed life into the country’s beaten-down cement sector.
Southern Province Cement sees two-third drop in 3Q profit
Saudi cement producer Southern Province Cement saw its third-quarter sales decrease 43.2 per cent to SAR216m from SAR380m in the 3Q16.
Yamama Cement sees 3Q profit fall
Yamama Cement reported a 30.5 per cent YoY fall in sales to SAR164m (US$43.7m) in 3Q17 from SAR236m in 3Q16. The company’s net profit decreased 48.1 per cent from SAR56.3m to SA...
Egypt doubles value of cement exports in 9M17
Egypt’s cement exports rose 88 per cent during the first nine months of 2017, reaching around US$72m compared to US$38m last year, its building industries export council said on...
Umm Al-Qura Cement secures US$13.3m bank loan
Umm Al-Qura Cement Company of Saudi Arabia has signed a key Islamic financing agreement with Riyad Bank to secure a SAR50m (US$13.3m) loan.
Arabian Cement postpones Rabigh grinding operation
Arabian Cement Co expects the commercial operation of the grinding unit at its Rabigh plant, Saudi Arabia, to start in the 3Q18, instead of the earlier-announced 4Q17.
Arabian Cement in merger talks with Al Safwa Cement
Arabian Cement has entered into potential merger talks with Al Safwa Cement of Saudi Arabia, owned by El Khayyat Group, Public Pension Authority (PPA) and General Organisation f...