Cement News tagged under: Saudi Arabia
Hail Cement sees drop in 2017 profit30 January 2018, Published under Cement NewsSaudi Arabia’s Hail Cement reported a 84.4 per cent YoY fall in its net profit to SAR15.5m from SAR99.7m. Total sales decreased 39.5 per cent from SAR272.1m in 2016 to SAR164.5m in 2017. The company attributed its decrease in net profit to reduced demand, tough competition and falling prices. |
Qassim Cement sees 38% drop in profit29 January 2018, Published under Cement NewsSaudi Arabia’s Qassim reported a 26.5 per cent YoY fall in sales to SAR626m in 2017 from SAR852m. Net profit fell 37.8 per cent from SAR405.1m in 2016 to SAR251.8m one year later. Qassim Cement runs a single 4.4Mta plant with two kiln lines in Buraydah, central Saudi Arabia. The company had a 7.4 per cent market share in 2016, according to The Global Cement Report, 12th Edition. |
Riyad Capital: Outlook for Saudi Arabia in 201808 January 2018, Published under Cement NewsRiyad Capital will present its outlook for the Saudi Arabian cement industry in 2018 at Cemtech Middle East & Africa held between 17-20 February 2018 at the JW Marriott Marquis, Dubai, UAE. Santhosh Balakrishnan, assistant vice president of research, explains to ICR what to expect in the year ahead. ICR: What impact will the ‘Saudi Vision 2030’ initiative have on the cement industry? Will we see the effects of this plan by 2018, or will it come to fruition later? Santhosh Bala... |
Al Jouf Cement Company to export 72,000tpa to Jordan28 November 2017, Published under Cement NewsAl Jouf Cement Company signed a sales and marketing contract with the Saudi Industrial Export Company (SIEC) on Sunday, according to a statement released on Tadawul. This follows the signing of a memorandum of understanding back in October. The agreement will see 72,000tpa of cement exported to Jordan. The financial impact of this contract will be announced in 1Q18. |
Saudi Cement Group joins WCA22 November 2017, Published under Cement NewsSaudi Cement Group has joined the World Cement Association. The cement producer, which is one of the largest in Saudi Arabia, commands a capacity of around 11.5Mta. In addition, the company runs its own port terminal in the country, enabling it to load around 2Mta of cement and clinker onto ships. |
RAK Cement profits have fallen in 9M1706 November 2017, Published under Cement NewsRAK Cement has seen a 21.2 per cent fall in profits in 9M17. The UAE-based company's net profit totalled AED212,470 (US$57,830), compared to AED7.8m (US$2.12m) in 9M16. RAK Cement's sales amounted to AED137.28m in 9M17, a drop of 5.15 per cent YoY. |
Tabuk Cement reports a net loss in 3Q1706 November 2017, Published under Cement NewsAccording to Reuters, Tabuk Cement has seen a net loss of SAR12.2m (US$3.2m) in 3Q17, compared to a net profit of SAR7.9m (US$2.1m) in 3Q16. The net sales of the company have also decreased from SAR49.7m to SAR25.5m over the same period. |
Saudi Arabian companies report profit falls in 3Q1731 October 2017, Published under Cement NewsSaudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 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... |
Red Sea City plan raises Saudi cement firms' share prices30 October 2017, Published under Cement NewsSaudi Arabia’s plan to build an entirely new US$500bn city, Neom, by the Red Sea has breathed life into the country’s beaten-down cement sector. Shares of companies such as Saudi Cement Co, Southern Province Cement Co and Yanbu Cement Co, the country’s biggest by market value, have all risen since the kingdom announced the Neom plan earlier this week, reports Arabian Business. The announcement "is surely a long-term positive for the cement sector - a sector which has been reeling... |
Southern Province Cement sees two-third drop in 3Q profit25 October 2017, Published under Cement NewsSaudi cement producer Southern Province Cement saw its third-quarter sales decrease 43.2 per cent to SAR216m from SAR380m in the 3Q16. The company’s net profit declined by 67.2 per cent to SAR57m from SAR174m in the same period a year ago. |