Cement News tagged under: Middle East
Sinai Cement returns 9M profit12 November 2024, Published under Cement NewsEgypt-based Sinai Cement Co , part of Vicat Group , reported net sales of EGP4.44bn (USS$90.19m) in the January-September 2024 period from EGP3.225bn in the year-ago period. Stand-alone net profit after tax saw considerable improvement, increasing to EGP2.607bn in the 9M24 from EGP108.872m in the 9M23. Consolidated profit attributed to the parent company reached EGP2.748bn in the 9M24 from a net loss of EGP121.45m in the 9M23. |
Riyadh Cement Co significantly improves 3Q results11 November 2024, Published under Cement NewsRiyadh Cement Co reported sales of SAR203.01m (US$54.1m), up 59.7 per cent YoY, in the third quarter of 2024 (ended 30 September 2024). In the 3Q23 the company saw sales of SAR127.15m. Gross profit improved by 181.3 per cent YoY to SAR83.91m from SAR29.83m in the 9M23 while operating profit surged by 250.8 per cent YoY to SAR74.62m in the 9M24. Net profit for the quarter stood at SAR94.58m, up 405.5 per cent from SAR18.71m in the 3Q23. January-September 2024 Sales revenue in the fir... |
Raysut Cement expands production capacity to align with Oman Vision 204008 November 2024, Published under Cement NewsRaysut Cement is expanding its production capacity to support Oman Vision 2040 and meet increasing regional demands. The Sohar Cement Factory, capable of producing 5000tpd, has increased its annual capacity to 1.75Mt. This expansion addresses Oman’s infrastructure needs and offers bulk and bagged forms of cement, including Ordinary Portland Cement (OPC) and Sulfate-Resistant Cement (SRC). In an interview (abstract) with local media, Dr Hilal Al Dhamri, CEO of Raysut Cement Group, emph... |
Saudi Cement Co reports robust performance in 3Q2407 November 2024, Published under Cement NewsSaudi Cement Co reported sales revenue of SAR387.1m in the third quarter of 2024, up 22.9 per cent YoY from SAR315m. The company has attributed the improved revenue to increased sales revenues and average selling prices. Gross profit increased by 34.9 per cent YoY to SAR154.3m in the 3Q24 from SAR114.4m in the 3Q23 in the previous year. Operating profits surged by 61.5 per cent YoY to SAR98m in the 3Q24 from SAR60.7m. The company’s consistent growth was also shown in 3Q net profit, which... |
Najran Cement reports improved financial results06 November 2024, Published under Cement NewsNajran Cement (Saudi Arabia) has reported a significant improvement in its financial performance for the 3Q24, reflecting a rise in sales and profitability compared to both the same period in 2023 and in the previous quarter. The company recorded sales of SAR134.57m (US$35.88m), marking an 18.2 per cent increase from SAR113.84m in the year-ago period. The company’s gross profit rose to SAR36.89m, a 14 per cent increase from SAR32.37m in the 3Q23 and operational profit increased 20.7 per... |
Tabuk Cement reports boost in financial performance06 November 2024, Published under Cement NewsTabuk Cement Co (Saudi Arabia) reported a significant boost in its financial performance for the 3Q24, with notable increases in sales, profits and total comprehensive income compared to the same period the year previous and in the last quarter. The company’s sales reached SAR90.12m (US$24.03m), a 66.5 per cent increase compared to the same period the year previous. In the nine-month period, the company’s revenue climbed to SAR262.60m, up 32.1 per cent from last year, while net profit s... |
Eastern Province Cement Co sees 15% uptick in 9M net profit04 November 2024, Published under Cement NewsEastern Province Cement Co reported sales of SAR280m, up 15.2 per cent YoY, for the third quarter of 2024, according to data on the Saudi Exchange. The company attributed the higher sales to increased sales volumes and improved prices. Gross profit rose by 25.8 per cent YoY to SAR78m in the 3Q24 while operating profit increased by 38.6 per cent to SAR61m. Net profit remained flat at SAR41m when compared with the year-ago period due to an impairment in investment in an associate. Januar... |
Northern Cement posts 71% YoY rise in 3Q net profit29 October 2024, Published under Cement NewsNorthern Cement Co (Jordan) has reported its 3Q24 unaudited financial results. The company reported consolidated sales of JOD43.279bn (US$61.042bn), representing a 16 per cent increase from JOD37.312bn in the 3Q23. The cement producer also posted a consolidated net profit of JOD1.146bn in the 3Q24, up 71.3 per cent when compared with JOD668.981m in the year-ago period. The improved result is attributed to a significant rise in sales. However, cost of sales rose to JOD37.621bn in the 3Q... |
RAK White Cement reports AED28.5m profit in 9M2429 October 2024, Published under Cement NewsRas Al Khaimah Co for White Cement and Construction Materials (RAK White Cement) saw its third-quarter (July-September 2024) revenue increase by 7.5 per cent to AED63.21m (US$17.2m) in 2024 when compared with AED58.8m in the 3Q23. The company’s net profit advanced 75.9 per cent YoY to AED9.11m from AED5.18m over the same period. Basic and diluted earnings per share increased to AED0.018 in the 3Q24 from AED0.01 in the 3Q23. January-September 2024 In the first nine months of 2024, RAK... |
Yamama Cement posts 140% advance in 3Q net profit22 October 2024, Published under Cement NewsSaudi Arabia-based Yamama Cement reported sales of SAR285.2m (US$76.1m) in the 3Q24, up 34.7 per cent from SAR211.7m in the 3Q23. The company’s net profit surged by approximately 140 per cent to SAR97.9m in the 3Q24 from SAR40.8m in the 3Q23, reported Reuters. |