Displaying items by tag: Gulf Cement Company
UAE: Gulf Cement Company has appointed Mohamed Ahmed Ali Ebrahim as its CEO. He was previously working as the company’s Acting CEO.
Gulf Cement falls into loss-making in first nine months of 2019
14 November 2019UAE: Gulf Cement’s losses in the nine-month period to 30 September 2019 were US$1.06m, compared to a US$0.44m profit in the corresponding period of 2019. This was caused by a fall in nine-month revenue of 8.3% year-on-year to US$92.8m from US$101m.
UAE: Al Khair National has suspended talks to sell a 38% stake in Gulf Cement to Liberty House Group. Negotiations originally started in December 2017.
Gulf Cement receives oil well cement certification
17 February 2017UAE: Gulf Cement has received certification from the American Petroleum Institute to produce oil well cement. Its sales revenue fell by 8% year-on-year to US$153m in 2016 from US$167m in 2015 and its profit fell by 30% to US$13.6m from US$19.4m, according to Mubasher. The cement producer operates a plant in Ras Al Khaimah.
Gulf Cement Company profit falls 12.7%
15 August 2016UAE: Gulf Cement Company's profit fell by 12.7% year-on-year to US$3.65m in the second quarter of 2016, from US$4.27m in the first quarter of 2015. The decrease was attributed to the negative impact of investments in the first half of 2016.
Gulf Cement profits fall by 29.3% in the first half of 2015
03 August 2015UAE: Gulf Cement Company has reported a 29.3% profit drop to US$48.4m in the first half of 2015 compared to US$12m in the same period of 2014. Profits grew to US$4.29m in the first half of 2015 from US$2.53m in 2014. Gulf Cement had previously reported profits of US$4.12m in the first quarter of 2015 compared to US$14.4m in the same period of 2014.
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