Displaying items by tag: Hilal

Egypt: Germany-based HeidelbergCement subsidiary Suez Cement’s losses fell by 11% year-on-year to US$75.0m in 2019 from US$84.1m in 2018. Mubasher News has reported that sales also fell, by 13% to US$41m from US$0.47bn.

Suez Cement is seeking buyers for its 51% stake in Kuwait-based Hilal Cement.

Kuwait: Several sets of financial results for Kuwaiti cement companies have been released for the year to 31 December 2011.

Hilal Cement has reported that its total revenue increased by 5.8% to US$71.1m and its net profit grew by 70.5% to US$4.4m.

Meanwhile, Kuwaiti Portland Cement saw its total revenue drop to US$174.4m, a drop of 18.4%, with its net profit slumping by 88.6% to US$9.1m.

Kuwait Cement recorded a fifth consecutive year of positive earnings, a 20.8% increase in total revenue to US$215.9m, and a 6.8% improvement in net profit to US$51.2m.