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Saudi Cement’s Net Profit Falls On Weak Local Demand

Infra News - Published on Tue, 18 Jun 2019

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Saudi Cement’s revenue for the Q1 2019 rose 18% higher YoY to USD 103.9 million, driven by higher export sales volume of cement and clinker. It said that its prices had risen, but that the price rise was not as great as that achieved by some other producers. Its profit for the quarter was USD 35.2 million, a 7% fall YoY.

However, its profit was 6% higher compared to the Q4 2018. Saudi Cement’s cement export volumes increased to 0.25 million tonne for the quarter, while clinker sales volumes jumped to 0.41 million tonne . In contrast, local cement sales volumes declined by 16.5% YoY to 1.19 million tonne.

Going forward, the company added that it will continue to focus on exports in light of weak domestic demand.

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Posted By : Mohan Sharma on Tue, 18 Jun 2019
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