Cement News tagged under: Najran Cement
Najran Cement posts 1H results28 July 2020, Published under Cement NewsSaudi Arabia-based Najran Cement reported sales of SAR121.5m (US$32.4m) in the second quarter of 2020. The company’s gross profit reached SAR50.3m while its operational profit stood at SAR40.4m. Net profit after zakat and tax was SAR33m. For the first half of 2020 the company posted sales of SAR277.8m and a gross profit of SAR106.8m. Operational profit reached SAR86.5m while net profit after zakat and tax reached SAR73.1m. |
Najran Cement signs financing agreement28 April 2020, Published under Cement NewsSaudi Arabia’s Najran Cement has signed a financing agreement with Bank Al-Jazira. The credit agreement will see a total of SAR355M (US$94.67m) paid semi-annually over five years. The first four years will see an annual payment of SAR51m and the remainder issued in the final year. |
Najran Cement Co reports positive 1Q20 results24 April 2020, Published under Cement NewsSaudi Arabia’s Najran Cement Co has reported a 557.4 per cent surge in net profit to SAR40.1m (US$10.69m) in the first quarter of 2020, compared to SAR6.1m in the 1Q19. Sales advanced to SAR156.4m from SAR106.5m, on the back of a lower cost of sales and financing. |
Najran Cement resumes production at 6500tpd line25 June 2019, Published under Cement NewsSaudi Arabia’s Najran Cement has temporarily suspended operations of its second production line. However, it will resume production at its 6500tpd third line from 1 July due to a decrease in its clinker inventory, according to Reuters. The change in production lines is also expected to increase operational efficiency and decrease fixed costs in the FY19 by SAR5.7m (US$1.52m). |
Najran Cement losses surge to 651% in 2Q1831 July 2018, Published under Cement NewsSaudi Arabia’s Najran Cement’s losses reached SAR-31.73m (US$-8.46m) in the second quarter of 2018, representing an increase of SAR4.2m when compared with the 2Q17, according to a statement to the Saudi Stock Exchange (Tadawul). Quarter-on-quarter the company’s losses increased 212 from SAR18.18m. Najran has attributed the slide to a drop in average selling prices, combined with a fall in sales volumes as demand has fallen and competition increased. Higher production and finance costs... |
Najran Cement announces financial impact of line closure15 February 2018, Published under Cement NewsSaudi Arabia’s Najran Cement has halted production at a 6500tpd clinker line and resumed production at its 3000tpd second line. The second line was temporarily shut down to reduce excess capacity within the market. The company announced that the financial impact of these developments is estimated to reach SAR11.3m (US$3.01m) on FY18. |
Saudi Arabian companies report profit falls in 3Q1731 October 2017, Published under Cement NewsSaudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 173,433) from SAR19.3m in the 3Q16, according to a company statement on the Saudi stock exchange. Profits retreated 75.5 per cent QoQ. Revenues of the Saudi cement producer decreased by 37 per cent from SAR58.2m in 3Q16 to SAR36.9m in 3Q17. Hail Cement’s 9M17 profits decreased 85.2 per cent to SAR11.6m, compared t... |
Saudi Arabia: Najran shuts down Line 207 March 2017, Published under Cement NewsSaudi Arabia’s Najran Cement Co has suspended production at a 3000tpd clinker line. The temporary shutdown of company’s Line 2 is due to the current conditions in the market. The decline in cement demand has led to an increase in inventories. |
Saudi Arabia: Najran Cement receives export licence17 February 2017, Published under Cement NewsNajran Cement obtained an export licence from the Saudi Ministry of Commerce and Investment. The licence was received on 15 February 2017 and is valid for one year, according to the company’s statement to the Tadawul, the Saudi stock exchange. |
Najran 4Q16 profit falls 73%20 January 2017, Published under Cement NewsNajran Cement reported a fall in profits of 72.55 per cent to SAR14.76m (US$3.93m) in 4Q16 from SAR53.73m in 4Q15. The company attributed the lower profit to reduced sales volumes due to slowing construction activity and an increase in energy prices. Najran Cement's full-year profits reached SAR124.81m, down 51.2 per cent from SAR255.62m reported in 2015. |