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News Najran Cement

Displaying items by tag: Najran Cement

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Najran Cement increases sales and profit in first nine months of 2021

02 November 2021

Saudi Arabia: Najran Cement’s sales in the nine-month period which ended on 30 September 2021 were US$117m, up by 1.2% year-on-year from US$116m in the corresponding period of 2020. The company increased its nine-month net profit by 7.5% to US$34.5m from US$32.1m. It said that its cost of sales per tonne and finance expenses both declined.

Published in Global Cement News
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Najran Cement grows sales and profit so far in 2021

04 August 2021

Saudi Arabia: Najran Cement’s revenue grew by 13.7% year-on-year to US$82.3m in the first half of 2021 from US$74.1m in the same period in 2020. Its net profit after zakat and tax increase by 27.9% to US$24.9m from US$19.5m. It reported lower sales and profit in the second quarter of 2021 due to Ramadan and Eid al-Fitr.

Published in Global Cement News
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Najran receives licence for transportation subsidiary

05 January 2021

Saudi Arabia: The Ministry of Transport has granted Najran Cement a licence to launch its own limited liability transportation company. Reuters News has reported that the company is in the process of obtaining the final licence for the launch.

Published in Global Cement News
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Najran Cement pays off loan

02 July 2020

Saudi Arabia: Najran Cement has announced that it has completed the repayment of a US$12m loan from Banque Saudi Fransi. Mubasher news has reported that the loan had been due for repayment in instalments in the first half of 2020. The cement producer retains US$94.6m in outstanding loans.

Published in Global Cement News
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Najran Cement takes out loan

30 April 2020

Saudi Arabia: Najran Cement Company has signed a financing agreement with Bank Al-Jazira for a loan of US$94.5m. Under the agreement, repayments are to be made at a rate of US$13.6m/yr for four years, and the remaining amount settled in the final year of the financing period ending 2025.

Published in Global Cement News
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Najran Cement establishes transport division

28 November 2019

Saudi Arabia: Najran Cement’s board of directors voted on 27 November in favour of the establishment of limited liability transport company. Due to market conditions, the new subsidiary will not be incorporated until 30 June 2020. Najran Cement did not confirm the size of the investment in its statement.

Published in Global Cement News
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Najran Cement shows third-quarter profit in 2019

29 October 2019

Saudi Arabia: Najran Cement has reported a net profit after tax in the three months to 30 September 2019 of US$3.77m, compared to a loss in the third quarter of 2018 of US$6.33m. Its earnings rose by 81% year-on-year to US$25.9m from US$14.4m. The company, whose total capacity at its Najran integrated cement plant is 5.6Mt/yr, made operational and personnel changes over the period, including appointing Mohammed Bin Manaa Bin Sultan Aballa as its new chairman in September 2019.

Published in Global Cement News
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Najran Cement receives license for export of clinker

10 September 2019

Saudi Arabia: Najran Cement has received a licence to export clinker from the Saudi Ministry of Commerce and Investment. The licence is valid for a year from 4 September 2019.

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Najran Cement appoints new chairman

04 September 2019

Saudi Arabia: Najran Cement has appointed Mohammed Bin Manaa Bin Sultan Aballa as its new chairman. He will be supported by Salah Bin Yassin Bin Khalil Allaf as the deputy chairman. Abdul Salam Bin Abdullah Bin Abdulaziz Alduraibi has also been appointed as a managing director at the cement producer.

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Najran Cement’s sales rise by 20% to US$48.7m in first half of 2019

29 July 2019

Saudi Arabia: Najran Cement’s sales rose by 20% year-on-year to US$48.7m in the first half of 2019 from US$40.6m in the same period of 2018. Its net profit after Zakat and tax was US$0.92m, after a loss previously. It attributed its increased sales and profit to higher sales volumes, better pricing and reduced production costs.

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