Qatar National Cement Co (QNCC) report a 13.8 per cent decline in sales revenue to QAR397m (US$109m) in 2024, compared to QAR460.7m in the previous year. The company's net profit for 2024 fell toby 22 per cent to QAR160m from QAR205m in 2023. The Board of Directors said that the company has achieved good results despite a noticeable decline in demand for its main products, such as cement, washed sand, and other materials, during 2024.
QNCC will continue to meet the market’s needs for various types of cement, washed sand and other products. It has started establishing facilities to produce oil well cement, catering to customer demand, diversifying its product portfolio and increasing market share.
By optimising energy consumption, reducing other expenses as per the approved budget and ensuring operational excellence, QNCC aims to enhance profitability. In addition, the company is looking to explore investment opportunities within and outside Qatar to support the company’s activities.
