Qatar National Cement sees profit decline 51%

Qatar National Cement has recorded a 50.5 per cent fall in net profit to QAR172.16m (US$47.29m) for 2019, compared with QAR347.83m in the previous year.

The company’s total cement production declined to 2.2Mt against 2.9Mt in 2018. In 2019 sales of all types of cement dipped to 2.6Mt from 2.9Mt.

The company has also announced that it aims to diversify its cement production to meet local market demands and explore the possibility of exports.