Cement News tagged under: Southern Province Cement
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. |
Saudi Cement producers see sales fall 25% in February15 March 2017, Published under Cement NewsSaudi cement producers saw sales fall by 24.9 per cent in February 2017. Cement companies sold 4.09Mt of cement in the second month of the year, down from 5.44Mt in February 2016. Output also decreased by 26 per cent YoY from 5.47Mt to 4.04Mt during the same period while inventories increased to 1.07Mt, up 18.2 per cent YoY from 0.906Mt in February 2016. Yanbu Cement topped cement sales as it reported a volume of 0.474Mt but nevertheless experienced a 21.3 per cent YoY drop from 0.602M... |
Saudi Arabia: Southern Province 3Q16 profit drops 14%18 October 2016, Published under Cement NewsSouthern Province Cement posted a 14.4 per cent YoY decrease in profits from SAR202m (US$53.9m) in 3Q15 to SAR173m in 3Q16. Lower demand and higher depreciation were cited as the key reasons for the decline. In the first nine months of 2016, the cement producer registered net profits of SAR724m, down from SAR739m for the same period of the previous year. |
Saudi Arabia: cement firms come under pressure09 August 2016, Published under Cement NewsSaudi Arabia’s cement activities continue to come under pressure as falling sales volume and profitability remain subdued. Companies’ operational performance was impacted due to lower than estimated average realised price on the back of stiff competition, especially in the central region in 2Q16, coupled with the impact of lower fuel subsidy, reports Al Rajhi Capital. Saudi Cement and Southern Province Cement were the top performers in 2Q16. Saudi Cement revenue was up 11 per cent YoY, whi... |
Southern Province Cement Line 2 due for end-June completion12 February 2016, Published under Cement NewsWork on Southern Province Cement's second production line at its Bishah plant in Saudi Arabia has been delayed, according to a company statement to the Saudi bourse. The company added that 83 per cent of the project has been completed so far and is scheduled for commissioning at the end of June 2016. The delay does not have any financial impact, the cement producer said. |
Saudi: Southern Province Cement commercial operations from new line01 December 2015, Published under Cement NewsSouthern Province Cement launched on Monday the commercial operations at the third line of its Tihama plant, with a clinker production capacity of 5000tpd, the company said in a statement to Tadawul. The Saudi cement producer aims to increase the plant’s capacity to 15,000tpd. Accordingly, the total capacity of the company’s three plants reaches nearly 28,000tpd. |
Southern Province Cement posts 29% drop in 9M15 net earnings15 October 2015, Published under Cement NewsSaudi producer Southern Province Cement Co posted net earnings of SAR202m (US$53.9m) for the third quarter of 2015, down 29 per cent compared with SAR285m a year earlier. Net earnings for the nine-month period ended 30 September also decreased by 7.6 per cent YoY from SAR800m to SAR739m. |
China National Building Materials (CNBM)29 June 2015, Published under Cement NewsProduction is due to get underway in December this year at Southern Province Cement’s second Bishah line, as supplied by China National Building Materials (CNBM). The line has been built at a total cost of SAR713m (US$190m) to help meet growing demand in Saudi Arabia. The Bishah plant currently has a production capacity of 5200tpd, but the new line will add an additional clinker capacity of 5200tpd once up and running. The deal for the new line was signed in 4Q13 and was financed by a com... |
SPCC to launch second production line, Saudi Arabia22 June 2015, Published under Cement NewsSouthern Province Cement Co (SPCC) is likely to launch the second production line at Bishah cement plant in December, said CEO Safar Dhaffir. The 5000tpd line is established by China's CNBM at a total value of US$190m (SAR 713 million), to meet the growing demand for cement in the kingdom. The plant operates currently with a production capacity of 5,200tpd of clinker, OKAZ newspaper reported. |