Cement News tagged under: Middle East
Lucky Cement starts commercial operations at Samawah plant12 March 2021, Published under Cement NewsLucky Cement Ltd has announced the commencement of commercial operations of its Samawah plant in Iraq. The company in a notification to the Pakistan Stock Exchange (PSX) on Thursday informed, "We are pleased to announce that the greenfield cement production facility in Samawah, Iraq with a capacity of 1.2Mta has successfully commenced its commercial operations with effect from 10 March 2021." The production facility is a joint venture with the Al-Shamookh group of Iraq. With the l... |
Cementir sees strong regional sales in Turkey11 March 2021, Published under Cement NewsCementir Holding’s consolidated results for 2020 saw a surge in Turkish local cement demand and exports. This saw an increase in revenues of 53 per cent in local currency and a rise of 39 per cent in overall clinker and cement sales volumes. Turkish sales volumes in the domestic market grew by 27 per cent. Exports of cement and clinker more than doubled with new markets of Africa and the Middle East. Ready-mix concrete volumes rose by 47 per cent compared to 2019. Overall revenue totalled ... |
Tabuk Cement sees profits rise 113% in 202008 March 2021, Published under Cement NewsSaudi Arabia’s Tabuk Cement has seen its net profit surge 113.2 per cent to SAR51.58m (US$13.75m) in 2020, compared with SAR24.19m in the previous year. The increase in profit was driven by a rise in sales and other revenues, alongside a drop in the cost of sales, selling and marketing and financing expenses. Revenues also advanced 15.8 per cent YoY to SAR276.45m from SAR238.66m in 2019. |
Southern Cement records sales of SAR1653m in 202008 March 2021, Published under Cement NewsSouthern Cement reported sales in 2020 of SAR1653m (US$440.8m), up 27 per cent YoY due to an increase in sales volume which increased by 24 per cent YoY, while net income for the year was up 32 per cent YoY reaching SAR609m. For 4Q20 Southern Cement reported sales of SAR431m, with an increase of nine per cent YoY and one per cent QoQ, supported by higher total sales volumes, which were up eight per cent YoY but declined by two per cent QoQ to reach 2.1Mt in 4Q20. There was an improv... |
Stock depletion temporarily stops Cimenterie Nationale deliveries05 March 2021, Published under Cement NewsLebanon-based Cimenterie Nationale has announced it will stop deliveries temporarily on 6 March due to the depletion of its stock. According to L’Orient-Le Jour, the cement producer’s decision is the result of the sector’s chaotic management and a lack of a long-term plan. Since the end of October, and after two exceptional exemptions, cement companies no longer have access to their quarries and their activity is limited to grinding and converting previously-extracted rocks into cement. ... |
Southern Province Cement reports 32% profit increase05 March 2021, Published under Cement NewsSaudi Arabia’s Southern Province Cement has reported a 31.5 per cent rise in net profit after zakat and tax to SAR609m (US$162.4m) in 2020, compared with SAR463m in the previous year. The company attributed the increase in net profit to higher sales revenue, a decrease in financing costs and an increase in other miscellaneous revenues, according to a statement. Its revenue also advanced 27.2 per cent YoY to SAR1.65bn from SAR1.3bn in 2019. |
City Cement announces 16% increase in net profit02 March 2021, Published under Cement NewsSaudi Arabia’s City Cement has seen a 16 per cent YoY increase in net profit to SAR220.5m (US$58.8m) in 2020, compared with SAR190.1m a year earlier. The company’s revenue also rose 7.7 per cent YoY to SAR572.3m. The rise in annual profit was mainly due to higher sales value and volumes, alongside lower Zakat and general and administrative expenses, according to a bourse disclosure. |
Raysut Cement reports 8% rise in total revenue02 March 2021, Published under Cement NewsOman's Raysut Cement Group has reported an OMR14.06m (US$36.57m) net loss for the full-year 2020 period, against an OMR2.26m profit in the previous year. The results were attributed to a decline in sales volume in the local market as a result of projects and lower sales realisation per tonne of cement and clinker sold in export markets due to stiff competition from the UAE, Saudi Arabia and Iran. However, the company’s total revenue increased 7.5 per cent YoY to OMR90.38m from OMR84.05m. ... |
LafargeHolcim 4Q20 regional results see net sales of CHF5994m26 February 2021, Published under Cement NewsGroup net sales for the 4Q20 totalled CHF5994m (US$6628m), down 8.1 per cent from CHF6521m in the 4Q19. In the 4Q20 LafargeHolcim recorded cement sales of 51.2Mt, slipping 0.5 per cent from 51.5Mt in the 4Q19. Aggregate sales decreased to 65.8Mt in the 4Q20, down 2.5 per cent from 67.5Mt in the 4Q19. Ready-mix sales reached 11.3Mm 3 in the 4Q20, a decline of 2.4 per cent from 11.6Mm 3 in the 4Q19. The company also reported on its results for the full-year 2020 , which saw a 5.6... |
Najran Cement announces net profits of SAR204m in 202025 February 2021, Published under Cement NewsNajran Cement announced its annual financial results on the Saudi Stock Exchange with a 281.8 per cent increase in its net profit to SAR204.3m (US$54m) in 2020, compared to SAR53.52m in 2019. The company attributed the increase to increased sales quantity, lower cost of sales per tonne and lower financing expenses. Najran Cement's sales increased to SAR623.2m in 2020, compared to SAR416.4m in 2019, an increase of about 49.7 per cent. Najran net profit amounted to SAR83.8m in ... |