Cement News tagged under: Saudi Cement
Saudi Cement posts stable 3Q profit22 October 2014, Published under Cement NewsSaudi Cement reported a modest rise in 3Q net profit from SAR229m (US$61m) to SAR232m in the year-ago period, according to a bourse filing. The company attributed the rise to improved efficiencies although quarterly cement sales fell due to declining domestic demand. |
Saudi Arabia: Southern Cement's third line is 70% completed22 September 2014, Published under Cement NewsSouthern Province Cement Co has completed 70 per cent of the third line of its Tihama plant, according to the Tadawul website. Project delays have been caused by the difficulties the contractor to obtain the necessary working visas required, but the project is now expected to be complete on 30 March 2015. |
Saudi Cement posts second-quarter net profit drop15 July 2014, Published under Cement NewsSaudi Cement posted a 6.2 per cent drop in second-quarter net profit on Monday as declining sales impact revenue. The kingdom’s largest listed cement producer by market value made a net profit of SAR288m (US$76.8m) in the three months to the end of June 2014, compared to SAR307m in the comparative period of last year. |
Saudi Cement recommends dividend02 June 2014, Published under Cement NewsSaudi Cement Co’s board of directors has recommended paying a dividend of SAR3.5 per share for first six months of 2014, the firm said in a bourse filing on Sunday. Shareholders owning the company’s stock at the end of trading on 1 July will qualify for the dividend, which will be paid on 9 July the statement said.? Saudi Cement reported a 16 per cent drop in first quarter 2014 profit which it blamed on sagging local demand and losses from an associate company. |
Saudi Cement to retire three kiln lines18 March 2014, Published under Cement NewsSaudi Cement Co (SCC) is to permanently cease of operations of three kiln lines Hofuf plant due to their age, higher operating costs and lower environmental efficiency. The company had restarted Lines 1, 2 and 3 at the Hofuf works at the end of last year due to rising demand and market pressures at the time. However, the decision has now been made to close these kilns and remove them from the plant site. The three kilns have a combined clinker capacity of 1325tpd. |
Saudi Cement 4Q13 profit down 8% YoY15 January 2014, Published under Cement NewsSaudi Cement reported an eight per cent fall in fourth-quarter profit on Tuesday, attributed to lower sales and rising raw material costs. In the three months to the end of December the company posted a net profit of SAR256m (US$68.3m), down from the SAR278m in the same period of the year before, according to a statement to Saudi Arabia’s bourse. Saudi Cement attributed the profit drop to a decrease in sales during the quarter and the high cost of imported clinker. |
Saudi Cement reports 9.6% rise in 3Q net profit23 October 2013, Published under Cement NewsSaudi Cement Co reported a 9.6 per cent rise in third-quarter net profit on the back of higher domestic sales. The company made SAR229m (US$61.1m) in the July-September quarter compared to SAR209m in the same period of last year, it said in a bourse filing. With around 7Mta of capacity, Saudi Cement operates two plants – Hofuf and Ain Dar. In late 2012 it reopened three of its kiln lines at its Hofuf plant, boosting capacity by 1325tpd. This was followed in May this year by an announcement... |
Saudi cement market records further volume expansion30 September 2013, Published under Cement NewsSaudi cement companies saw profits rise 8.2 per cent as cement demand in the kingdom continued to expand on the back of large projects, said Global Research in its June 2013 report. Cement demand in the 1Q13 stood at 15.5Mt compared to 14Mt in the same period last year. Saudi Cement and Southern Province Cement lead the sales volume rankings, resulting in market shares of 15.7 and 13 per cent, respectively. Cement output rose 16.3 per cent to 13.1Mt while clinker production increased 9... |
Saudi Cement reports 5.9% second-quarter rise16 July 2013, Published under Cement NewsSaudi Cement Co reported a 5.9 per cent increase in second-quarter net profit on Monday, thanks to increased demand. The company posted a second-quarter net profit of SAR307m (US$81.7m) compared to SAR290m in the same period in 2012. Net profit for the first six months of 2013 was SAR647m, up five per cent from the previous year. |
Saudi Cement 3Q12 net profit rises, Saudi Arabia15 October 2012, Published under Cement NewsSaudi Cement Co reported a 7.3 percent increase in quarterly profits on higher domestic sales, Reuters reported. The company said it made US$56m net profit during the third quarter, up from US$51.9m a year ago. The company said local demand for cement and clinker grew in the July-September period. Saudi Arabia is witnessing big developments driven by the government's strategy diversify its economy away from oil. Saudi Cement also said that is operational profit for the period increased by... |