Cement News tagged under: Saudi Arabia
Tabuk Cement sees rising profit in 1Q18 May 2020, Published under Cement NewsSaudi-based Tabuk Cement posted a rise in net profit after zakat and tax to SAR28.91m (US$7.7m) in the 1Q20, from SAR3.63m a year ago. Sales in the 1Q20 advanced by 42.9 per cent to SAR75.42m from SAR52.77m in the 1Q19 with volumes rising. Finance, and selling and marketing costs fell while the company saw gains from adjusting cash flows for a financial liability, according to Reuters. |
Southern Province Cement 1Q profit up18 May 2020, Published under Cement NewsSaudi cement producer Southern Province Cement Co reported a net profit after zakat and tax of SAR183m (US$48.8m) for the first quarter of 2020, up 52.5 per cent from SAR120m in the 1Q19. First-quarter 2020 sales increased 33.6 per cent to SAR457m from SAR342m in the year-ago period. Local sales volumes were up 27.5 per cent YoY and export sales advanced 48.6 per cent YoY in the 1Q20. Financial costs fell by 31.1 per cent YoY. |
Arabian Cement sees 22% rise in profit11 May 2020, Published under Cement NewsSaudi-based Arabian Cement Co has recorded a 21.6 per cent increase in net profit to SAR45.1m (US$12.03m) for the first quarter of 2020, compared to SAR37.1m in the year-ago period. The company also reported an 8.2 per cent YoY rise in quarterly sales to SAR204.6m from SAR189.1m. |
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. |
Umm Al Qura reports net profit surge in 1Q2024 April 2020, Published under Cement NewsSaudi Arabia’s Umm Al Qura has seen its net profit increase 79.1 per cent YoY to SAR38.5m (US$10.27m) in the first quarter of 2020, rising from SAR21.5m in the year-ago period. Quarterly sales surged 52 per cent to SAR96.5m from SAR63.5m. Average selling prices were also reported to have improved in the 1Q20. |
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. |
Yanbu Cement to reduce heat and power consumption22 April 2020, Published under Cement NewsSaudi-based Yanbu Cement Co(YCC) has signed an agreement in early 2020 for a considerable efficiency upgrade to be carried out by FLSmidth, focussing on reducing heat and power consumption. With increased attention on sustainability in the region, YCC, located 400km north of Jeddah, has chosen FLSmidth to provide the equipment and carry out the installation, projected to bring significant reduction in heat and power consumption. The project includes the supply and installation of new top ... |
Saudi cement sector reports positive 1Q2017 April 2020, Published under Cement NewsDespite the ongoing coronavirus pandemic, the Saudi cement sector has reportedly seen a 33 per cent YoY average increase in cement market volumes during the 1Q20, according to an Al Rajhi Capital report. Qassim Cement saw the highest growth at 53 per cent, followed by Yanbu Cement and Yamama Cement with rises of 43 and 38 per cent, respectively. However, restrictions imposed by the government have resulted in project delays, which may directly impact cement demand and cause under-uti... |
Al Jouf Cement returns to profit24 March 2020, Published under Cement NewsSaudi-based Al Jouf Cement has reported a net profit after zakat and tax of SAR5.3m (US$1.41m) in 2019 when compared with a loss of SAR39.5m in 2018. The company saw sales rise to SAR169.8m in 2019 from SAR137.7m in the previous year. In addition, the cost of sales as well as general and marketing expenses was down. |
China: outward bound23 March 2020, Published under Cement NewsChina’s Belt and Road Initiative (BRI) is now an integral part of the country’s overseas expansion policy. Since its inception in 2013, the BRI has been one of the essential vehicles driving the global spread of Chinese technology and providing a platform for corporate cement and construction giants to enter new markets. ICR takes a look at the initiative’s progress to date and the impact on China’s cement industry, as its shifts from its purely domestic production base to establishing its p... |