Cement News tagged under: Hail Cement Co
Hail Cement sees 19% drop in 1Q net profit15 May 2024, Published under Cement NewsHail Cement posted 1Q24 sales of SAR73.8m (US$19.7m), up by 19.2 per cent when compared with SAR61.9m in the 1Q23. The company’s gross profit declined by 11 per cent to SAR20.1m in the 1Q24 from SAR22.6m in the year-ago period. The operational profit saw a 18.5 per cent drop to SAR13.1m from SAR16.1m over the same period. Net profit fell 18.9 per cent to SAR15m in the 1Q24 from SAR18.5m in the 1Q23. Hail Cement attributed the drop in net profit to an increase in the cost of sales, zaka... |
Hail Cement Co sees net profit rise 82%26 January 2021, Published under Cement NewsSaudi Arabia’s Hail Cement Co has seen its net profit surge by 82 per cent YoY to SAR107.5m (US$28.67m) in 2020. The company has attributed the results to an increase in revenue and a decline in some expenses. Revenue advanced 22.6 per cent to SAR336.3m, compared with SAR274.4m in 2019. |
Hail Cement to repay outstanding loan amount16 December 2020, Published under Cement NewsHail Cement said its Board of Directors decided on 15 December 2020, to pay early and in full the balance amount of the loan from the Saudi Industrial Development Fund (SIDF). The amount of SAR152m (US$40.53m) is what is left from the original loan amount of SAR300m. A total of SAR148mis has already been repaid, the firm said in a statement. The financial impact will be reflected in the statements for the year ending 31 December 2020. |
Al Akaria sells stake in Hail Cement23 November 2020, Published under Cement NewsSaudi Arabia’s Al Akaria, a real estate company, has sold its entire stake in Hail Cement Co at a value of SAR96.9m (US$25.84m). The company had a stake of 6m shares and made a profit of SAR36.9m in the transaction, according to a statement on the Saudi Stock Exchange. |
Hail Cement sees 200% increase in profit26 October 2020, Published under Cement NewsSaudi Arabia’s Hail Cement Co has reported a 200.4 per cent rise in profits to SAR22.8m (US$6.08m) for the third quarter of 2020, compared with SAR7.59m in the year-ago period. Revenue also increased 15.2 per cent YoY to SAR71.7m in the 3Q20. During the period from January to September, the company’s profits surged to SAR84.8m, an increase of 200.5 per cent YoY. |
Hail Cement shuts down for maintenance28 May 2019, Published under Cement NewsSaudi cement producer Hail Cement Co has announced its planned shutdown of its production line for maintenance. The company’s cement mill and packaging line will remain in operation and therefore, order fulfilment will not be affected by the shutdown. |
Saudi producers to benefit from Neom Bay construction start-up21 January 2019, Published under Cement NewsSaudi Arabia will start developing the first major area of Neom, the kingdom's multi-billion dollar mega-city, from 1Q19. The founding board of Neom, chaired by Crown Prince Mohammed bin Salman, approved the concept of the masterplan for ‘Neom Bay’ which will be the first residential area to be developed in the city. The construction work will be completed in 2020. The full implementation phase of the US$500bn Neom project could potentially bring in more than 20Mta of cement demand at its... |
Hail Cement appoint new chairman and deputy chairman05 December 2018, Published under Cement NewsHail Cement Co's board of directors approved on 3 December the appointment of Ali Othman Al Zaid as the company's new chairman. Meanwhile, the Saudi Arabian cement producer has also appointed Qasem Saleh as the deputy chairman, the cement producer said in a bourse statement. |
CEO of Hail Cement resigns10 July 2018, Published under Cement NewsSaudi Arabia's Hail Cement Co has announced that its CEO, Matar Alahrani, has resigned from his position with effect from 30 August 2018, due to moving to a new position. The company's board of directors have noted their appreciation for Mr Alahrani's efforts since the company’s inception, according to a press release. |
Hail Cement and Wärtsilä renew agreement13 February 2018, Published under Cement NewsHail Cement Co and Wärtsilä have renewed their co-operation for a further three years. Wärtsilä will continue to ensure the operational reliability and availability of the company’s power plant in Turbah, Saudi Arabia. "Wärtsilä has been responsible for the full operation and maintenance of our power plant in Turbah for about six years now. We have been satisfied with their flexibility, quality of service and emphasis on safety, and are happy to continue our co-operation with them," says ... |