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FINANCIAL NEWS
Profits of GCC’s cement sector jump 27.1% in H1
06 Sep 2012
(MENAFN) Kuwait’s Global Investment House (GLOBAL) stated that the cement sector in the Gulf Cooperation Council (GCC) region posted profits of USD971.5 million in the first half, reported Arab News.
GLOBAL said in its report that the figure represented an increase of 27.1 percent from a year earlier, when profits stood at USD764 million.
Due to strong demand, Saudi cement sector topped other GCC markets with an annual growth rate that exceeded 20 percent, followed by Oman with 13.8 percent and 11.5 percent for each of the UAE and Qatar.
The report revealed that during the second quarter of the current year, profits of GCC cement companies dropped by 15.7 percent when compared with the previous quarter, however, they grew by 4.8 percent from a year ago.
It is worth noting that the sector’s net profit margins rose to 10.3 percent in the first 6 months of 2012.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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