Saudi Arabia: Hail Cement Q4 profits decline 21%
Hail Cement Company (HCC) reported a 20.99 per cent decrease in net profit for the 4Q16. HCC achieved SAR23.67m (US$6.31m) net profit in the quarter, falling from SAR29.95m in ...
Saudi Arabia
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Saudi Arabia: Yamama Cement secures US$266m for new plant
Saudi Arabia's Yamama Cement Company has secured SAR1bn (US$266.6m) to partially fund the building of a new plant, it said on Monday. The three-year financing includes SAR75...
Saudi Arabia: domestic firms' sales down 22% in November
Saudi Arabian cement companies saw their sales fall 21.92 per cent YoY to 4.2Mt in November from 5.4Mt in the same month last year, according to a Yamama Cement report. Tota...
Arabian Cement to start Rabigh grinding unit operations in 4Q17
Arabian Cement Co reported construction at its Rabigh grinding facility is ongoing. However, in a bourse filing the company said it expected commercial operations at the unit t...
Saudi Arabia shifts focus as spending curtailed
With the publication of the 2016 budget, Saudi Arabia has put an end to the high rates of spending prevalent before a subdued oil price environment took hold. However, the oil...
Saudi Arabia: changing times?
The 2017 outlook for the Saudi Arabian cement sector remains neutral unless the government continues its spending spree. But as the subdued oil price environment calls for a mo...
Saudi Arabia: cement sales down 7%
A recent report from Al Rajhi Capital Research stated that total cement sales in Saudi Arabia fell 6.8 per cent YoY to 47Mt in the first 10 months of 2016, from 50.2Mt in the s...
Saudi Arabia: Eastern Province and Tabuk Cement see fall in 3Q16 profits
Eastern Province Cement Co and Tabuk Cement are the latest Saudi cement producers to post a fall in third-quarter profits amid lower sales and higher production costs. Easte...
Saudi Arabia: Northern Cement sees 43% profit fall in 3Q16
Northern Region Cement Co reported a 42.83 per cent decline in net profits to SAR30.09m (US$8m) in 3Q16 from SAR52.64m a year earlier. Profits also decreased 38.16 per cent Qo...
Saudi Arabia: Yanbu, All Jouf and Saudi Cement see fall in 3Q16 profits
More Saudi cement producers have reported a fall in profits for the third quarter of 2016. The decline in profits were attributed to lower sales and a drop in average selling p...