Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Omani bourse extends rally as financial sector leads
- CBO issues treasury bills worth OMR26.250 million
- Closing Bell: Saudi main index sheds points to settle at 12,109.94
- Annual trade between Qatar and Jordan hits $248m
- Saudi Arabia, Japan strengthen investment ties with strategic MoU
- Saudi banking sector boosted by flurry of debt, sukuk issuances
- Ministry of Commerce issues decision on principles of governance for closed joint-stock companies
- Madayn's cumulative investment volume up by OMR1 billion in 5 years
- Aldar raises $2.45bn in sustainability-linked credit facility
- Why should UAE investors remain bullish on crypto market in 2025?
19/04/2016 05:56 AST
Saudi Cement has reported a 12.5 percent drop in its first-quarter net profit, hurt by a decrease in sales and an increase in energy costs.
One of the kingdom's largest cement firms by market value made a net profit in the three months to March 31 of SR265 million ($70.7 million), down from SR303 million in the corresponding period of 2015, according to a bourse filing.
The average forecast of five analysts polled by Reuters was for a quarterly net profit of SR269.9 million.
It didn't elaborate on the reasons for its earnings performance beyond the reference to sales and energy prices.
Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.
Construction-related firms have been put under pressure though by a slowdown in the sector, caused by cutbacks in state spending due to lower oil prices.
Saudi Cement also expects the fuel and electricity price hikes announced in the 2016 government budget to increase its production costs by SR68 million riyals this year.
However, Saudi Arabia has lifted a ban on exporting cement, the local Al Riyadh newspaper reported on Apr. 12; a move that would allow companies to export excess supply.
Trade Arabia
14/05/2017
Saudi Cement has registered a 37 per cent drop in its net profit for the first quarter which fell to SR165 million ($44 million) from SR265 million ($70.5 million) last year owing to the drop in sale
Trade Arabia
26/07/2016
Saudi Cement met analysts' estimates as it reported a 2 percent decline in second-quarter net profit on Monday due to a drop in sales and rising power costs.
One of the Kingdom's largest cem
Arab News
25/05/2016
The Board of Directors of Saudi Cement Company has resolved during its meeting held on 24/05/2016 (17/08/1437), to distribute interim dividends to the shareholders for the period first half of 2016 a
Tadawul
| Ticker | Price | Change |
|---|---|---|
| SABIC | 73.10 | 0.40 (0.55 |
| MAADEN | 53.60 | 2.20 (4.28 |
| SABICAGRINUTRIENTS | 118.00 | 1.80 (1.54 |
| MARBLEDESIGN | 83.50 | 0.00 (0.00 |
| LIMEINDUSTRIES | 12.18 | 0.38 (3.22 |
13/01/2025
Aldar Properties, Abu Dhabi's biggest listed developer, has raised Dh9 billion ($2.45 billion) in a sustainability-linked revolving credit facility from a syndicate of 15 UAE-based and international
The National
12/01/2025
Ooredoo announced on Sunday the appointment of Sheikh Nasser bin Hamad al-Thani as the new chairman of Ooredoo Kuwait.
Most recently, Sheikh Nasser was appointed as Group Regional CEO for th
11/01/2025
One of the fastest-growing logistics businesses in Mena region, GWC has marked "20 years of excellence and innovation", achieved significant milestones and won prestigious awards, solidifying its pos
Gulf Times
11/01/2025
Almarai, the world's largest vertically integrated dairy company and the world's fourth most valuable dairy brand in 2024, has successfully implemented RISE with SAP on Google Cloud. This milestone m
Saudi Gazette
05/01/2025
Elm, a pioneer in digital solutions, enhanced its brand identity, reflecting the company's ambitious and prominent objective. Leveraging comprehensive knowledge, a forward-thinking mindset, and a pro
Financial Information Co.