Saudi Arabia-listed cement firms post lower profits

A financial report by Al-Riyadh daily newspaper has revealed Saudi Arabia-listed cement companies recorded almost US$517.25 million (SAR 1.94 billion) in revenues in the second quarter of 2014, while realising sales worth SAR 3.66bn. However, the same companies saw a decline of 2.7% in net profits from $485.23 million (SAR 1.82 billion) to $471.9 million (SAR 1.77 billion) on a year-on-year (Y-o-Y) basis, after operational costs and zakat provision deduction. The Al-Riyadh daily report further stated th
August 11, 2014 Read time: 1 min

A financial report by Al-Riyadh daily newspaper has revealed Saudi Arabia-listed cement companies recorded almost US$517.25 million (SAR 1.94 billion) in revenues in the second quarter of 2014, while realising sales worth SAR 3.66bn.

However, the same companies saw a decline of 2.7% in net profits from $485.23 million (SAR 1.82 billion) to $471.9 million (SAR 1.77 billion) on a year-on-year (Y-o-Y) basis, after operational costs and zakat provision deduction. The Al-Riyadh daily report further stated that the cement companies also registered a 6% year-on-year fall in net profits from $970.46 million (SAR 3.64 billion) to $906.47 million (SAR 3.4 billion) in the first six months of 2014.

Quarry Products

Related Content

May 1, 2015

China cement industry profits down 67.6% in Q1 2015

China’s cement industry profits fell by 67.6% in Q1 2015 compared to the same period of 2014 US$520.88 million (CNY 3.23 billion), while total sales value fell by a far more modest 6.86% to $28.98 billion (CNY 177.2 billion). Further figures released by the National Bureau of Statistics (NBS) revealed that the Chinese cement industry’s profit margin fell by 3.42% to 1.82%.

NBS figures by national province showed that Shanxi Province and Hebei Province recorded a loss of $94.86 million (CNY 580 million)

April 30, 2015

Holcim profits nearly quadruple, while Lafarge sales rise in Q1 2015

Swiss cement maker Holcim has revealed that its Q1 2015 net profit almost quadrupled after the sale of its minority stake in Siam City Cement.

The sector giant, which is in the process of merging with France's Lafarge, revealed earlier today that its first-quarter net profit jumped to €295.7 million (CHF 310 million) from €76.3 million (CHF 80 million) in the same period last year.

Holcim said it expected 2015 operating profit adjusted for merger costs to be between €2.57 billion (CHF 2.7 billion) and

boombox1

Highlighted Content

boombox2